Canada needs to diversify its trade beyond the United States and increase links to rapidly growing emerging market economies, particularly in Asia, despite the “anti-China” clause in the USMCA.
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Articles on USMCA
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While a divided Congress will likely mean gridlock, there are two economic policies likely to see significant change: trade and infrastructure.
Countries that have phased out supply management systems in the dairy industry have seen an initial spike in production, then a steady decline. That’s why Canada should protect its dairy farmers.
The USMCA, if ratified, will fundamentally alter North America’s political and economic structures, increasing American dominance over its neighbours.
The USMCA, while imperfect, is overall a positive development for Canada. It has a number of structural elements that may very well leave us stronger when negotiating trade pacts in the future.
Who are the winners and losers in the new USMCA? It’s complicated, but one thing’s for certain: Canada should never again allow itself to be overly dependent upon one trading partner.
The relief that the U.S. didn’t make things even worse for Canada in the new NAFTA should be tempered by the realization that the moment of reckoning hasn’t passed; it’s only been postponed.
Top contributors
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Associate Professor of Political Science, Brock University
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Canada Research Chair in Economy and Environment, Queen's University, Ontario
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Part-Time Professor of Economics, The New School
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Professor, Economics, University of Calgary
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Associate Professor of Economics, Southern Methodist University
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Dwight F. Benton Professor of Marketing, University of Michigan
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Assistant Professor, University of Nevada, Reno
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Professor and Distinguished Research Chair, Globalization and Health Equity, L’Université d’Ottawa/University of Ottawa
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Professor Emeritus of Economics, McMaster University
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Professor of Health Economics, Johns Hopkins University
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Professor, Food Economics, University of Guelph
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Senior Economist and Associate Director of Social Science and Policy, University of Michigan Energy Institute, University of Michigan
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Professor, Dept of Food, Agricultural and Resource Economics, University of Guelph
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Associate Professor, Agri-Food Trade and Policy, University of Guelph
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Lecturer, Newcastle University
