A second consecutive term under the Democrats would likely be better for the Canadian economy and for B.C. businesses from a trade perspective
Based on the track records of both U.S. former president Donald Trump and current President Joe Biden, if Canadians could vote in the November presidential elections in the U.S., it might be in their best interest to vote for the eventual Democratic presidential nominee following the latter's exit from the race over the weekend.
“No matter what happens in the outcome of the election, I think this should be a wake-up call for British Columbia,” said Bridgitte Anderson, president of the Greater Vancouver Board of Trade . BDC notes that Canada exports 75 per cent of its goods and services to the U.S., and is therefore vulnerable to “Buy American” protectionism.
One part of Canada-U.S. trade that was hurt under Biden was energy. On his first day in office, Biden killed the Keystone XL pipeline, which had economic ramifications for Alberta oil producers as it helped maintain a discount for Alberta crude and also deterred investment in the province. “We were very fortunate, and did a lot of work, to get the Inflation Reduction Act to include manufacture of vehicles in North America,” Darby said.
From a Canadian diplomatic and economic standpoint, Biden has been easier to deal with than Trump, and the general attitude of the White House towards trade relations with Canada will matter a great deal when the Canada-United States-Mexico Agreement comes up for review two years from now.
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