4.2.4 Trade Balances
Completion requirements
It is in Canada's best economic interest to export more than it imports. However, to maintain positive international trade relations, Canada hopes to balance imports and exports with its trade partners. One of the greatest areas of contention in the 2017 NAFTA re-negotiations, was a perceived imbalance of trade. So great were these perceptions that as of March 2018, continuation of NAFTA appeared in doubt.
Businesses and governments must work together to promote overseas sales and to include more small and medium-sized businesses in Canadian trade negotiations. Our trading base is solid, but narrow, with an over-reliance on the US. To broaden the base, Canada actively pursues new trade opportunities, such as with China and post-Brexit Europe.
Businesses and governments must work together to promote overseas sales and to include more small and medium-sized businesses in Canadian trade negotiations. Our trading base is solid, but narrow, with an over-reliance on the US. To broaden the base, Canada actively pursues new trade opportunities, such as with China and post-Brexit Europe.