Prime Minister Mark Carney’s goal to double non-U.S. exports within the next 10 years will be challenging to achieve, a new study by the think tank Fraser Institute says, based on previous governments’ efforts to diversify trade.
The federal government has maintained a focus on diversifying trade away from the United States in an effort to reduce reliance on its southern neighbour in the face of U.S. tariffs. Canada has been hit hard by sectoral tariffs targeting steel, aluminum, automobiles, and lumber.
The Carney government has set a goal to double non-U.S. exports over the next decade, which it expects to generate $300 billion more in trade….