Bloomberg: Prime Minister Mark Carney set a target to double Canada’s non-US exports over the next decade, with his government claiming early signs of success, saying trade diversification efforts “are bearing fruit”.
The increase in Canadian exports to countries outside the US has been driven by price-volatile commodities — gold and oil — rather than businesses breaking ground in new markets, according to economist Marc Ercolao.
Excluding precious metals, Canada’s non-US exports remained essentially flat relative to December 2024, with economist Andrew DiCapua saying it’s “too early to tell” if the diversification push has paid off…