The US trade deficit
with Canada is small at $17.1 billion, but there are big differences in
political philosophy between Trump’s agenda for the US and Canada’s doubling
down on political correctness. There is no free speech in Canada. Citizens face
fines and jail for criticizing gays or minorities. The Canadian government has
a history of inviting the tyranny of the minorities and is prone to import more
socialism to reduce freedom and individualism. The big question is when
Canadian citizens start to push back on Canadian government abuse. French and
English are the official languages and non-assimilation is the norm.
Canada is in a tough
spot. It looks like they took over the
US auto industry and moved it to Canada and now Trump wants it back. Canadian
debt is high and the US is set to compete with Canada for oil and natural gas
customers.
Canada is currently our 2nd largest goods trading partner. Exports from
Canada to the US totaled $299.3 billion. Imports from the US to Canada totaled
$282.3 billion. The U.S. trade deficit with Canada was $17.1 billion in 2017.
Canada is the world's 5th largest exporter
of petroleum oil and
the United States is the top importer of Canadian petroleum oil. The United States imports $38.9 billion usd worth
of oil per year and imports 98.05% of all of Canada's oil exports. Another big
Canadian export commodity is Wheat.
Dairy is the second largest industry in Canada,
just behind red meat. Canada has 11.280
dairy farms and 1.4 million head of cattle. Dairy exports in 2017 totaled $400
million. Canadian dairy imports totaled $873 million. http://www.dairyinfo.gc.ca/index_e.php?s1=dff-fcil&s2=imp-exp&s3=exp
Canada charges a 300% tariff on Dairy imports
from the US. Yet agriculture only accounts for 1.6% of GDP. Canada claims that
their Dairy products are superior and they have invested heavily in developing
the Dairy industry. The US produced 215.4 billion pounds of milk in 2017.
Canada wants to increase milk production to 21.6 billion pounds. These billions
of pounds of milk are used to make cheese, butter and milk. Canadian milk costs $6 per gallon compared to
$3.26 for US milk.
Canada doesn’t want to see their auto and auto
parts manufacturing reduced. Canada makes the Honda Civic, Toyota Corolla,
Dodge Grand Caravan, Toyota RAV4, Honda CRV, Chevy Equinox, Ford Edge, GMC
Terrain, Chrysler Town & Country and Lexis RX. These models are the top
sellers. Canada is a major car manufacturer and has other plants including
Hyundai and Nissan and others.
US consumers buy 18
million cars per year. Canadian consumers buy 2 million cars per year. Canada
makes 2.2 million cars per year. Trump wants US consumers to buy cars that are
manufactured in the US by a US workforce.
Canada has a
population of 37 million, a land area of 3.9 million square miles, but half of
it is permafrost. GDP is $2 trillion, GDP growth is 3%. Per Capita GDP is
$48,496 per year, GDP by sector is agriculture 1.6%, industry 27.7%, services
70.7%.
Labor force is 20
million, Unemployment is 5.8%, Inflation is 1.4%, Poverty is 12.9%.
Main industries
include transportation equipment, chemicals, minerals, petroleum, natural gas,
wood and paper, food products and fish products.
Exports are $390.1
billion of motor vehicles, auto parts, industrial machinery, aircraft,
telecommunications equipment, chemicals, plastics, fertilizers, pulp, timber
crude oil, natural gas, electricity and aluminum sold to the US 76.2%, EU 7.7%,
China 4.1%, Japan 2.1%, Mexico 1.5%, other 8.4%.
Imports are $416.6
billion of machinery, equipment, motor vehicles, auto parts, crude oil,
chemicals, electricity and durable consumer goods from the US 52.2%, China
12.1%, EU 11.4%, Mexico 6.2%, Japan 3%, other 15.1%.
Government Debt to GDP
is 98.2%. Government revenue is $623.7 billion, government expense is $657.3
billion. External debt is $1.8 trillion. Foreign reserves are $83.1 billion.
33% of Canada’s GDP is consumed by government expense.
Norb Leahy, Dunwoody
GA Tea Party Leader
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