Canada confronts U.S. protectionism – RBC Wealth Management

By Joseph Wu, CFA

Bracing for U.S. protectionism

The spectre of U.S. tariffs has cast a shadow over Canada’s economy, with
potential consequences across several key sectors where cross-border trade
plays a critical role. With merchandise exports constituting roughly 25
percent of GDP, the Canadian economy is deeply tied to the U.S., its
largest trading partner. Nearly three-quarters of Canada’s exports flow
south of the border, predominantly within sectors such as energy, metals,
and auto manufacturing.

Canadian industries exposed to U.S. trade, by share of GDP