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Dear John,
A new study published by the Fraser Institute today finds that the federal government’s new Indo-Pacific trade strategy (IPS), which is meant to encourage increased Canadian exports to Indo-Pacific countries, unwisely shifts attention from Canada’s largest trading partner.
The United States is Canada’s main market for exports. Why? Mainly geography.
From 2017 to 2022, 75% of Canada’s merchandise exports went to the U.S. compared to less than 5% to China.
As Canada focuses on the Asia-Pacific, it’s missing enormous opportunities to improve trade relations with the U.S.
It’s also not clear that China or India would be open to deeper integration in the Asian supply chain by Canada.
Read the full study here, and be sure to share it with your friends and colleagues.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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