Canada’s economy remains closely tied to the U.S., tentative president-elect Biden may open up new opportunities.
Video by: Oskar McCarson
Multimedia by: Jasmine Afnan Al-Kholani
By: Alina Snisarenko
Canadians should no longer ask the question of ‘if’ but rather of ‘how much’ when it comes to the U.S. election’s impact on Canada.
Dr. Sui Sui, an associate professor of global management studies at the Ted Rogers School of Management at Ryerson University says that Canada’s economy is fairly reliant on its relationship with the U.S.
“About 70 per cent of Canadian exports go to the U.S. Canada is a small, open economy … for our economy to prosper you have to export, you have to rely on customers … 60 some per cent of Canadian businesses only export to the U.S.,” said Sui Sui.
Economy is not the only factor
What many Canadians may not realize is that Canada-U.S. relations are extremely close, and not just when it comes to their economies. Tentative president-elect Biden may open up new avenues for Canada on the global stage.
Interactive: Various ways the election can affect Canada. Story continues below.
“Biden has already said some of the executive actions he’ll take within the first hundred days in terms of rejoining certain multilateral agreements. I think that’ll actually give Canada an opportunity to do much the same. There has been a building discussion on what is a Canadian foreign policy. We haven’t had a full review of it in several years,” said Jennifer Bonder, a PhD candidate and fellow at the Munk School of Global Affairs.
With the ongoing turmoil surrounding the 2020 election results, Canadians will just have to wait to see what the next four years will look like.
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