By: Jashan Grewal
How Much Canada Rely On US For Trade
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I was writing a blog about economy and interest rate hikes in 2019, right at that moment this struck to my mind. We Canada as a Country rely too much on US for everything, which in my opinion is a big liability. From Trade to Banking, we just follow the footsteps of US, as our economy is directly connected to our neighbor. With trade war going on with our neighbor ,both sides are losing which is costing taxpayers millions of dollars.
75 percent of our trade is with US compared to 25 percent to the rest of the world. Industries that are getting hurt are mainly dairy, lumber, steel and aluminum.
Here below are some noticeable trade with US compared to rest of the world.
Oil worth 69 Billion Dollars to US Compared to 1 Billion to rest of the world.
Natural Gas 10 Billion US to $0 (yes zero) rest of the world.
Aluminum 7.8 Billion US to 2.6 Billion rest of the world.
Lumber 10.4 Billion US to 2.6 Billion rest of the world.
Motor Vehicles 56.5 Billion US to 2.55 Billion rest of the world.
Disclaimer* This is just my opinion I am not a expert in Trade. Your suggestions and opinions matter as I learn from your expert opinion and advice. I can give you expert advice on Real Estate in Surrey