Canada has suspended trade negotiations with the United States, Prime Minister Mark Carney said, after last-minute changes to Washington’s proposed terms were deemed “unfair” and “uneconomic”, a day after US President Donald Trump had said that US "should be able to have a deal with Canada."
Very informative, maybe what I heard was that USA is the biggest outside EU. But in this regard it should also be considered that EU has completely frictionless trade, it’s almost like selling between 2 states in USA. So that is also a huge factor.
But I won’t deny that a huge wealthy economy right next door is the obvious trade partner. But when that economy is governed by madness, shipping by sea is absolutely an option. How else would an island economy like Japan be able to be one of the leading economies in the world?
Mark Carney also clearly expressed that Canada is in a way better situation today than 18 months ago in negotiating with USA, very much because Canada has made multiple new trade agreements.
Traditionally however there hasn’t been much shipping from Canada to these trade partners, because for some reason that transport has gone through USA, which is not an option anymore. So these shipping lines need to be established, and maybe Canada even needs new port facilities and transportation hubs for this new expanding trade to not have to pass USA, which should absolutely be avoided in case of US tariffs.