Canada’s push to diversify trade away from U.S. seeing mixed results: report
https://www.ctvnews.ca/business/article/canadas-push-to-diversify-trade-away-from-us-seeing-mixed-results-report/
Canada’s push to diversify trade away from U.S. seeing mixed results: report
https://www.ctvnews.ca/business/article/canadas-push-to-diversify-trade-away-from-us-seeing-mixed-results-report/
18 Comments
That’s to be expected, we need to get used to the new normal.
People sometimes forget that Canada have oceans between themselves and next trading partner from US.
Cost goes up.. prospects of trade goes down.
Canada produce a few unique items, but other countries produce everything else and can export at cheaper landed cost.
“Canada’s 80 years of economic integration with the US can’t be perfectly undone in a few years”
I mean..yes?
So Canada mixed its trade and is now being called out for mixed results.
Shocking news
>“While fewer businesses report taking no action compared to a year ago, relatively few are actively diversifying sales or suppliers outside the U.S.,” the report says. “Instead, firms are more likely to be raising prices, increasing domestic sourcing or delaying expansion plans.”
>The report says data suggests many businesses still expect Canada-U.S. trade conditions to stabilize, despite signs that the global trading environment is “becoming more fragmented and less predictable.”
What exactly are these businesses waiting for? Trump has another few years in office and there is no guarantee that a new version of Trump won’t emege in the future.
After only 1 year, we’re seeing mixed results.. shocking!
No one will ever come close to the sheer proximity advantage that the US has as a trading partner. I’m all for diversifying trade, but people need to drop their fantasy where we’re able to completely shed our dependence on the US
Well introducing Bill C-22 will surely help with that… /s
It’s been like a year, what is anyone expecting?
> Of the cities surveyed, Calgary and Ottawa-Gatineau posted the largest increases in exports to non-U.S. markets between 2024 and 2025 — 64.67 per cent and 64.04 per cent, respectively.Toronto’s non-U.S. exports increased by 32.82 per cent, followed by Saskatoon (32.04 per cent) and Kelowna (28.63 per cent). Non-U.S. exports increased by 16.8 per cent countrywide.
Considering the timeframe and circumstances this is actually quite impressive. Next year will be a better metric but a 16.8.% increase across the country in a year is nothing to sneeze at, considering how tightly integrated some of these trade relationships have been.
New era requires businesses to diversify. Waiting for the USA to return to before isn’t going to happen and even more, it’s not a good strategy to rely on one customer!
Hell yeah we can do this Canada! I’m a defecting Yank and will be arriving this Summer !
It hasn’t even been a full year… and you won’t see real impacts for at least another 5
We would probably see more results if they actually opened up interprovincial trade in a meaningful way. They are dragging their feet
You can’t completely change your economy in a couple of years. What I do know is we’ll never rely as heavily on the Americans again.
The goal is to double non-US exports by 2035. 16% in one year is a great start. And most importantly, it deters aggression from the US.
Looking good so far and only going to get better.