As trade ties with the US continue to fray, Canada is seeking a new role and new partners in the increasingly fragmented global economy. Prime Minister Mark Carney has been courting more foreign investment as well as closer ties with the European Union and Asian economies.
Julian Karaguesian, former special advisor to Canada's Department of Finance and visiting lecturer at McGill University's Department of Economics, says Carney is seeking new markets for Canada's energy and critical minerals industries. "If you look at the last year, our exports to the United States fell by about 4 percent, and that cut [economic] growth. However, our exports to the rest of the world over the same period increased by 11 percent (...) so there's an adjustment going on."
