With the results of the U.S. election now in, business leaders are preparing to discuss implications for the backbone of our economy: Canada-United States trade.
At the core of this relationship is a paradox: our deep trade relationship drives growth, supports jobs, and fuels entire industries on both sides of the border.
For Canada, one of our biggest competitive advantages is our access to the U.S., and how interconnected this relationship is, so any threat to the ongoing order is one we must take very seriously.
Our economies aren’t just neighbors; they’re interwoven partners. From agriculture to steel and automobiles, our shared industries support millions of jobs, sustain families, and fuel our growth.
Together, let's continue to fuel this critical conversation. To share your industry insights and help shape our ongoing advocacy priorities, email us at media@bot.com.
- Total trilateral trade between Canada, the U.S., and Mexico hit $1.93 trillion in 2023. This partnership, under CUSMA, supported 17 million jobs in 2022—a 32% jump since 2020.
- If Ontario were a country, it would be the U.S.'s third-largest trading partner — a testament to our reliance on each other.
- Nearly 85% of Ontario’s exports go straight to the U.S., and roughly 75% Canada-wide.
- U.S. trade is valued at more than $450 billion annually. That’s over a million dollars a minute moving across our borders.
- Every day, $320 million in goods flow across the Ambassador Bridge between Windsor and Detroit.
This critical relationship means one in five jobs in Ontario depends on trade with the U.S.—making it the most trade-reliant province in Canada. And it’s only growing. Since CUSMA came into effect in 2020, trade between Canada and the U.S. has surged by 47%.
The automotive sector exemplifies our shared prosperity:
- Canada exported $102 billion in motor vehicles and parts last year, with 93% heading to the U.S.
- Together, Canada, the U.S., and Mexico produce 14.8 million cars annually, 17% of the global total. Ontario and Michigan alone generate 22% of North America’s auto output
- Parts cross the border up to eight times before a car rolls off the line, underscoring how tightly our manufacturing sectors are woven
Canada’s aluminum and steel sectors are pillars of the economy, supporting over 130,000 jobs. Ontario leads in production, with major hubs in Hamilton and Sault Ste. Marie sending the bulk of these exports to the U.S.
Ontario is a premier source of critical minerals, producing approximately $3.5 billion in critical minerals in 2020.
- Ontario is a net exporter of 9 critical minerals (Cobalt, Indium, Nickel, Niobium, PGE, Selenium, Tellurium, Uranium, Zinc)
- The US is dependent on foreign supply chains for many minerals and has a federal strategy to ensure secure and reliable supplies
