Very unlikely, IMHO. The CRTC isn't in the habit of making decisions that harm large Canadian companies.
The amount of people here riding Facebook and Google's dick is absurd, and no one here at all are even the slightest perturbed by the fact that two major private corporate entities are trying to basically strongarm a sovereign nation into enacting its own legislation? It's disgusting.
I also love the choice of CTV news, the most corporate-friendly trash in Canada which ofcourse is highlighting the "fallout" first and foremost oh and look, the Canadian Minister didn't respond in time to our story but we'll quote at length the Google propagandist.
We have been using that same excuse to block out Japanese and Chinese goods in various eras.
Just feels weird the Canadians are copying our playbook
"We may not agree with their laws but it is their right"
This statement can be used to justify any law. We are also not debating whether it's their right but if it's a good law.
A good law can be passed with ill intentions and a bad law can be passed with good intentions. We should judge a law based on its merits and consequences but not based on who or why it was introduced. In this case, we can discuss on outcomes of this law and how it is bad for the internet but speculating on the intentions is just a lazy argument.
Lately, the go to terms against any law impacting big tech have been 'nationalism', 'authoritarianism' and 'crash-grab' etc. Many times the laws on anti-trust or data-residency laws enacted by other countries have been termed as 'threat to democracy', authoritarian and as impacting basic structure of the internet etc.
Any country trying to regulate, promote its own tech or maintain sovereignty over its citizen's data is strong armed into abandoning them by utilizing various trade organizations, lobbying and diplomatic pressure. At the same time, there is lot of official and unofficial complaining and investigation about TikTok storing data of 'American citizens' in China.
To me this looks entirely hypocritical and any discussion that accuses 'nationalism' comes off as a bad faith argument.
Many of the biggest tech have origins in US and any country trying to make a law regulating businesses and technology within its borders is bound to impact American companies one way or the other. We can take the easy route and call it just nationalism or we can try to understand the intention/reasons behind the law. We may not agree with their laws but it is their right.