Breakling Down Canada's Position In The Trade War
Every now and then, Real Clear Politics runs a piece that's worth reading, in this case, Canada Dreaming by Nicholas Phillips. He brings up points about "associate membership" in the EU that nobody else has mentioned: Last year, Canada exported about $400 billion worth of goods to the United States, responsible for nearly 16% of total Canadian GDP and for 41% of all Canadian manufacturing jobs, including over 75% of auto jobs. Conversely, Canada sends about $40 billion of goods to the EU. For Carney’s strategy to work, there needs to be demand in the EU to replace any reduction in goods that Canada sells to the US. But the project of redirecting Canada’s exports away from the United States and toward the EU looks like a project to make water run uphill. The most popular policy for creating demand, a free trade agreement, was already implemented in 2016. CETA, the Canada-EU free trade agreement, hasn’t been ratified by all EU member states but its key term...