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Business Daily

US Election: Cross-border trade

Oct 22, 2024
17:28
Snipd AI
Deborah Yedlin, the President and CEO of the Calgary Chamber of Commerce, shares insights on Alberta's crucial energy exports to the U.S. and how the upcoming election might affect this relationship. Phoebe Wall-Howard, a journalist covering the auto industry in Detroit, discusses the election's implications for cross-border trade and the auto sector. They explore the rise of nearshoring, the impact of the Keystone XL pipeline's cancellation, and how U.S. political uncertainties are causing hesitation among businesses, particularly in the automotive industry.
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Podcast summary created with Snipd AI

Quick takeaways

  • The upcoming US election poses a significant threat to cross-border trade, particularly affecting businesses reliant on US-Canada market ties.
  • Recent geopolitical shifts have led to increased nearshoring, with Mexican manufacturing becoming more prominent for US companies looking to enhance supply chain reliability.

Deep dives

Impact of the US Election on Cross-Border Trade

The upcoming US election is expected to significantly impact cross-border trade between Canada and the United States. Many businesses and industries are particularly concerned about how the election might affect their operations, especially given that 90% of Alberta's exports go to the US. The potential for new trade barriers or changes in regulations creates uncertainty, compelling companies to adopt a cautious approach. This hesitation is palpable among businesses, as many voice reluctance to discuss the political implications that could alter trade dynamics.

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