US depends on Canada’s energy sector to fuel current tech industries under new NAFTA agreement
Just like Canada’s trade agreement with EU, similar approach is used, but much needed to the US as per their need for energy and construction.
As we know, the US houses the best top tech giants and financial markets that the world depends on. This needs energy to sustain, and Canada has about 40% of the worlds energy producing potential.
Meanwhile, Alberta, and BC remains highest producer of financial support for Canada in terms of oil and gas.
While the construction booming uses Canadian steel, it also a benefit to the U.S construction industry. If Canada is building little small homes and more buildings, it would mean that resources are being shipped elsewhere at a cost that companies are willing to pay.
There is analysis that says manufacturing drives the service industry which Canada is good at as 70% of GDP is from service based industry.
Compared to US, Canada spends roughly 350 billion on goods and services while 900 billion by US. So therefore, both countries are in strengths in the retail sector, and more and more companies will turn to using green instead of plastic. However, if we use the resources of the environment, we may extinct resources or even unable to keep up.
US has a strong retail sector if Canada uses its strong service sector to produce more products, it can potentially compete with the US and be at adds with Mexico.
The US has a strong healthcare workforce while Canada and some provinces seeks to make cuts to hospitals.
This would make Canadians vulnerable and make them look to US to get expert surgery or cancer treatment. These are the areas we need to strengthen since much research has been done especially heart and stroke, cancer treatment etc.
I see no change to clothing industry as we will continue to rely on Chin for cheap, and Canada houses multi nation people here.
Final, Trudeau has taking a good step forward with pipeline to distribute oil and gas to other provinces. I see no issue for Trudeau on the environment battle in the election. He has done good with this trade deal.