The Globe and Mail reports in its Wednesday, March 29, edition that Bank of Canada Governor Stephen Poloz noted on Tuesday how periods of global protectionism have hurt growth both here and among our trading partners. The Globe's David Parkinson writes that Mr. Poloz said in a speech: "I find the correlation between economic progress and openness to be striking. When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper. The flip side is that responding to tough economic times by turning inward rarely succeeds. What experience has shown is that the fears of openness are misplaced. Protectionism does not promote growth and its costs are steep." Tuesday's speech was Mr. Poloz's strongest defence yet of the principles of economic openness, an issue that has rapidly come to the global forefront with the election of protectionist U.S. President Donald Trump, as well as rising nationalist political sentiment in many European countries. Mr. Trump wants to renegotiate the North American free-trade agreement. Mr. Poloz said NAFTA has room for improvement and updating. He said, "There may be things that could be done to improve NAFTA."