Canada’s trade hurdle is all about supply management

The federal government has not explicitly stated that supply management is non-negotiable

Canada’s trade hurdle is all about supply managementBy Steven Globerman and Gary Hufbauer The Fraser Institute As North American Free Trade Agreement (NAFTA) talks continue, much remains undecided. The United States and Mexico have already reached an agreement in principle on a new free-trade arrangement. But in light of Trump’s complaints about Canadian dairy tariffs, the highest hurdle for Canada will be…

Higher oil prices lead to lower merchandise trade deficit

The surprise reduction in the trade deficit because of higher oil prices actually masked more negative news for the Canadian economy

Higher oil prices lead to lower merchandise trade deficitCanada's merchandise trade deficit with the world narrowed from $743 million in June to $114 million in July, the smallest deficit since the most recent surplus in December 2016, says Statistics Canada. The federal agency said on Wednesday that total exports rose 0.8 per cent, mainly on higher crude oil prices, while total imports declined…

LNG Canada a win for consumers, workers, business, environment

Canada has been late to fully capitalize on the potential, based on high export prices and the desperate demand for clean fuel

LNG Canada a win for consumers, workers, business, environmentCanada’s planned liquefied natural gas export project is a huge boost for the economy and the environment. The consortium of large multinational firms (Shell, PetroChina, Petronas of Malaysia, Korea Gas, Mitsubishi) that owns part of the LNG Canada project to be built on the northwest coast of British Columbia recently announced that contracts have been…

U.S. trade talks key to future value of Canadian dollar

TD Economics report says energy prices are playing a decreased role in the strength of the loonie

U.S. trade talks key to future value of Canadian dollarIn spite of a strong Canadian economy and rising domestic interest rates, the Canadian dollar has been trading at a discount relative to its fundamental value, largely due to trade risks, says a report by TD Economics. “Our empirical work shows that over the last few years, non-fundamental or idiosyncratic factors are influencing the loonie…

How we can avoid a devastating trade war with the U.S.

We need a smart, realistic strategy for negotiations, starting with giving up our dairy supply management system

How we can avoid a devastating trade war with the U.S.The importance of the North American Free Trade Agreement to Canada’s economy is staggering. Each day, $2.4 billion worth of goods and services cross the Canada/U.S. border. Some 78 per cent of Canada’s merchandise exports are destined for NAFTA partners. Now, the 23-year-old agreement is under severe threat from a hyper-protectionist American president. Initially, NAFTA…

Time for a reality check about Canada’s exports

Industrial transitions don’t happen overnight. Nor do politicians generally have a decisive role in that evolution

Time for a reality check about Canada’s exportsCanada is a relatively small economy that depends heavily on international trade to underpin its prosperity. An examination of what Canada sells to other countries sheds light on the industry sectors in which we possess competitive strengths. It stands to reason that the industries that supply the bulk of our exports are also the ones…

Resolving Canada’s trade quagmire in the age of Trump

We must make a major concession to protect the auto sector and that may mean phasing out our farm supply management system

Resolving Canada’s trade quagmire in the age of TrumpThe North American Free Trade Agreement (NAFTA) negotiations continue to roller-coaster. The United States administration is now in senior level one-on-one NAFTA talks with Mexico. Meanwhile, President Donald Trump threatens Canada with new auto tariffs, and inflicts the silent treatment. And a Democratic governor calls on the president to cease his “childish” tweets at Prime…

Too many oil and gas opportunities left on the table

Tim McMillan of the Canadian Association of Petroleum Producers talks about the need to attract investment, spur innovation and grow jobs

Too many oil and gas opportunities left on the tableTim McMillan is president and CEO of the Canadian Association of Petroleum Producers. Calgary’s Business: How would you describe the state of the oil and gas industry right now? McMillan: We’re at a crucial point in Canada right now. Oil prices have recovered but the Canadian industry is not rebounding as fast as other oil…

The Saudi-Canada spat and the New World Order of Oil

What's been billed as a clash over human rights is really all about oil and the Saudis keeping Canada in its place

The Saudi-Canada spat and the New World Order of OilCall it the clash of the oil titans. And it all started with a tweet. In one corner we have Saudi Arabia, the undisputed oil heavyweight of the world. It produces 11 million barrels per day (bpd) and is the planet’s largest oil exporter by far. In the other corner to challenge the champ, we…

Premiers the barrier to free trade within Canada

Our premiers regularly meet to discuss liberalizing trade. Year after year, decade after decade, nothing concrete is ever accomplished

Premiers the barrier to free trade within CanadaBy Marco Navarro-Genie and Alex Whalen Atlantic Institute for Market Studies Opinions vary as to whether the meeting of Canada's premiers in mid-July in St. Andrews, N.B., was a success. The expectations for those hoping for freer trade within Canada were high. But if the expectations were high, they were largely created by some of…

Protectionism on the rise as NAFTA talks stall

Against the backdrop of an increasingly fraught political relationship between the U.S. and Mexico, what should Canada do?

Protectionism on the rise as NAFTA talks stallThe contentious (and sometimes very public) North American Free Trade Agreement negotiations between the U.S., Canada and Mexico likely got more complicated with the recent election of a new president of Mexico. While Andres Manuel Lopez Obrador (known as AMLO) says he wants a successful outcome to the NAFTA talks, he’s an outspoken critic of…

Canada can eliminate supply management by following Australia’s lead

The opening of the dairy market was done systematically over eight years to allow time for farmers to transition

Canada can eliminate supply management by following Australia’s leadBy Jon Berry, Alan Oxley and Dan LeRoy The Fraser Institute As trade tensions between Canada and the United States over North American Free Trade Agreement (NAFTA) renegotiations continue, and U.S. President Donald Trump places Canada’s protection of various sectors of its agricultural industry front and centre, Canadian policy-makers would be well advised to learn lessons…

Will Trump’s protectionism be the making of Canada?

By blowing up NAFTA, Trump would be forcing Canada to take control of its future once again and commit to building common bonds to preserve our nation's integrity

Will Trump’s protectionism be the making of Canada?It’s ironic that U.S. President Donald Trump's madcap protectionism might do more for Canadian unity than our timid political leaders have accomplished in decades. Ever since the first Canada-United States trade deal in 1988, which started the process of continental economic integration, we Canadians have slowly been distancing ourselves from one another. Worse, we haven’t…

Canadian exporters pumped despite challenges

Road bumps include difficulty hiring skilled labour and uncertainty over trade agreements with the U.S., according to survey

Canadian exporters pumped despite challengesCanadian exporters may face challenges these days but in the short-term they remain fairly optimistic. Export Development Canada’s Mid-Year Trade Confidence Index, a bi-annual survey of 1,000 Canadian exporters, finds that optimism is rising for all firm sizes, sectors and regions of the country. “Canadian exporters are pumped about higher global growth and are busy…

We don’t want to go where trade wars have taken us before

Trump is obviously not deterred by the warnings from economists of a global trade war that could usher in a new depression

We don’t want to go where trade wars have taken us beforePresident Donald Trump has unveiled a long list of punishing tariffs that will affect everyone. Is this the beginning of a worldwide trade war or simply a clever negotiating tactic by a man who sees himself as an expert on “the art of the deal” – an opening salvo in his campaign to get a…
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