The Decibel New trade partners for Canada? Easier said than done
Feb 24, 2025
Chris Wilson-Smith, a trade expert and writer for The Globe and Mail, dives into Canada's trade landscape as U.S. tariffs loom. He discusses the significant barriers Canadian businesses face in diversifying their trade partners, especially smaller firms battling against giants. The complexities of political tensions with countries like India and China are explored. Furthermore, interprovincial trade challenges, particularly in alcohol sales, highlight the regulatory hurdles stifling Canadian growth, while the role of immigrant-led enterprises in the economy is emphasized.
AI Snips
Chapters
Transcript
Episode notes
Trade Diversification Challenges
- Diversifying trade partners is harder than it appears.
- It's a slow process with regulatory and geopolitical hurdles.
Company Size and Diversification
- Larger companies are better equipped to handle trade diversification challenges.
- Smaller businesses lack resources and face greater risks.
Government's Role in Diversification
- The government plays a crucial role in trade diversification by facilitating connections.
- Trade missions act as "speed dating" for companies to meet potential clients.