US Edition
Canadian companies diversify trade during US tariff war but experts see limits
CANADA, JUL 09 – Exports to non-U.S. markets rose 42% amid tariffs, yet Canada’s reliance on the U.S. remains at 68% of total exports, experts say diversification has limits.
- Canadian companies boosted exports to allies other than the U.S. between May 2024 and May 2025 amid rising U.S. tariffs on steel, aluminum, and cars.
- The rise occurred after President Trump introduced tariffs of 50% on steel and aluminum imports in March, followed by a 25% tariff on cars made in Canada in April, leading Canada to impose retaliatory tariffs.
- Exports to the U.S. dropped 15%, falling to C$43.93 billion and 68% of total exports, while shipments of gold, petroleum, uranium, and pharmaceuticals to countries including the UK and EU rose significantly.
- Stuart Bergman of Export Development Canada said, "This is a good thing for Canadian diversification," but experts noted Canada’s heavy reliance on the U.S. will likely continue because of linked supply chains.
- Following their April election victory, Prime Minister Mark Carney’s Liberal government pledged to challenge U.S. trade policies under Trump and transform Canada’s economy to reduce dependence on the southern neighbor, aiming to secure a trade agreement by July 21 or potentially respond with additional counter-tariffs if negotiations stall.
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11 Articles
11 Articles
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Center
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Total News Sources11
Leaning Left5Leaning Right0Center5Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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