The cost of aluminum for consumers in Europe buying on the physical market has dropped due to expectations that Canadian shipments under U.S. tariffs from Tuesday will be diverted, physical market traders said.
. . .
The U.S. is a major importer of aluminum used widely in the transport, packaging and construction industries, shipping in 5.46 million metric tons of aluminum products in 2023, according the U.S. Commerce Department.
According to the Commerce Department, Canada accounted for 3.08 million tons or 56 per centof aluminum product imports to the United States for domestic consumption in 2023, the latest full year data available.
It is things like this that make me worry less about Trumps impact on Canada.
We aren’t trading with others because we had a stable trading partner beside us, and other markets would love to have those resources. That partner being unstable now forcing us to diversify our trade is a net positive long term because being that reliant on another country is not sustainable.
Personally I think we should be moving to a more isolated economy with focus on increased production considering global issues and the sheer volume of natural resources Canada has, but diversifying trade is better than nothing and can still lead to a more self reliant Canada.
We also need to beef up our military capacity yesterday, because I doubt Trump stops when economic force doesn’t work.
Isolated economies perform worse in the long run, usually by a lot. Fair and open trade is almost always a net benefit for both parties. What Canada needs is a diverse portfolio of trading partners, not 70% of our exports going to the US.
The Liberal party’s funding of Export Development Canada is an important cornerstone of this that we should not forget come election season.
Isn’t this a somewhat flawed statement if you consider a long enough timeline? Not saying you’re wrong, just that history keeps happening.
Point to one truly isolated economy that’s doing well.
Developing more stable trading partners as well. The US is closer, and will always be next door, but I think Trump 2.0 has shown us that we should not integrate our economy with theirs at all, rather just trade with them “opportunistically”. Long term partners should be developed elsewhere.
EU (CETA), Asia (CPTPP) and CANZUK need to be focused on.
I am not speaking about going full isolationist. I am saying we need to isolate our economy more than it is, and focus on domestic production and trade over international trade in the current global climate.
Canada is in a unique position because we have so much that we could use domestically to produce our own goods that is currently being shipped to other countries. Domestic trade and production should be the default state only turning to international trade when it offers what cannot be produced domestically or when we have an excess not used domestically.
The article gives the perfect example: Aluminum. We should be producing the things aluminum makes, not selling it to buy back as a products later. Like the fighter jets we still don’t have.
We should be one of the richest countries in the world and we aren’t because we sell everything, including domestic infrastructure and natural resources, to anyone who will buy them.
It’s more than that, it’s exceedingly more easy to trade with a neighbor than across the Atlantic or Pacific oceans.
Respond to the whole point instead of taking an individual part of a whole sentence out of context in an attempt to sound intelligent.
It is 2025, and we have the technology to move goods easily across oceans to better markets.
Its 2025, and trains are still the cheapest and most efficient way of moving material. Now if canada builds a trans artic rail to europe…
In 2022 rail freight accounted for $209.2 Billion in goods from and to Canada and Mexico, Truck freight accounted for $996.4 billion.
https://www.bts.gov/newsroom/transborder-freight-annual-report-2023
If trains are the cheapest and most efficient way to move materials, what is causing the use of trucks instead of trains for North American trade?
Because the US public invested in a massive road network and let the rail network deteriorate?..
Thank you for proving my point in an attempt to argue against it.
All you prove is US purposely do things less efficient but ok.
I gave you information and a source, while you give willful ignorance. Believe what you want and go troll elsewhere.
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It’s more expensive to ship across the oceans and requires a whole set of other infrastructure.
It’s exceedingly more easy to ship across land borders and to try and say my point isn’t valid like this is laughable.
Europe would rather get the material from continental Europe if they can, just like we’d rather ship within NA if we can.
Just because we can, doesn’t mean we have to do so at greater expense and time. It’s very normal for companies to stay within their continental area before deciding to expand to shipping overseas.
We already have the infrastructure to ship to these markets, or we wouldn’t already have established trade deals with them.
No shit Sherlock, did you get your MBA in Economics from DUH University?
Your point isn’t valid because we have the modern technology to easily ship across oceans, and nothing is stopping us from improving the ways we do that to make them more cost effective.
Your entire argument is “Its cheaper and easier” while ignoring the very real problems being dependent on the US for trade brings.
Every country would prefer this. Another “No shit Sherlock” point from an absolute genius graduate of DUH University.
If your point is that we need to remain tethered to the US for our own good you should work for Trumps PR team instead of arguing in support of what he wants for free.