Who will Canada’s trade partners be in 2025?

It is easy to assume that Canada-U.S. trade will continue to dominate as it always has, and that Canada will trade little with fast-growing markets elsewhere.

But an important shift is under way. Though trade with the United States still accounts for the majority of Canada’s international transactions, it has not grown in real terms over the past decade. At the same time, Canada’s trade with fast-growing markets elsewhere is taking off.

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