US EditionCanadian 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 diversified exports during 2024-2025, reducing U.S. market share but not replacing it entirely.
- This shift followed President Trump's steel, aluminum, and car tariffs imposed between March and April 2024.
- Exports to the U.S. declined from previous levels to represent 68% of Canada’s total exports, while shipments to key allies such as the UK saw significant growth.
- Stuart Bergman said, "This is a good thing for Canadian diversification," though reliance on U.S. trade remains due to interlinked supply chains.
- Despite export growth elsewhere, economists warn Canada faces limits in diversification and may remain vulnerable to U.S. policy shifts.
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