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Fasken Martineau DuMoulin LLP has cancelled a long-planned partner retreat to Las Vegas this April as a show of Canadian solidarity amidst President Donald Trump’s tariff threats.
It’s a decision that will cost the firm more than $1-million in sunk costs and forfeited deposits, said a source within the firm, whom The Globe and Mail is not naming as they were not authorized to speak publicly about the decision.
Managing partner Martin Denyes made the announcement in a memo sent out Wednesday. In a statement to The Globe, Mr. Denyes said in making the decision, Fasken is taking up the call to spend its money in Canada. He noted that while a formal trade war may have been averted for now, the threat remains.
“Canada is facing an unwarranted economic attack by what has, for more than 150 years, been its closest ally and trading partner,” Mr. Denyes said. “We know, from stories within our own client base, that damage has already been done to the Canadian economy and Canadians as a result. That will continue as long as tariff and trade threats and uncertainty continue.”
Mr. Denyes would not comment on how much money Fasken would lose by cancelling the retreat, but acknowledged there was a “substantial sunk cost.” The firm is now planning another gathering somewhere in Canada.
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