The Trump administration has repeatedly promoted mercantilist industrial policy.
trade with united states
Breakthrough medicines take an average of 10 to 15 years of research and development—and $2.6 billion—before reaching market.
China still only represents five per cent of our exports.
The president slapped tariffs on Canadian steel and aluminum exports during USMCA negotiations.
Capital investment is a major source of labour productivity growth, particularly in Canada.
Companies might relocate production capacity from the U.S. to Canada to gain duty-free access to the Chinese domestic market.
Canada’s trade deficit with the world widened from C$6.4 billion in the first quarter of 2016 to a record C$10.7 billion.
China displaces Canada as largest U.S. trade partner (though China’s bragging rights may be short-lived)
Canada remains the United States’ largest export market accounting for almost 19 per cent of U.S. exports, while China accounts for only 7.4 per cent of total U.S. exports.