“Oh, say can you see” the benefits of trade. “O, Canada,” just look south. (Or the United States can glance north.) National anthem mash-ups aside, it is worth noting that the United States and Canada share much more than just the world’s longest and most productive border. They share core values and a love of freedom, a commitment to democracy, a level playing field and open markets. And this time of year, they are both celebrating.
Canada recognizes its national holiday on July 1 – a tradition since 1868. The United States of America then marks the adoption of the Declaration of Independence back in 1776 … on July Fourth, of course.
So, let the festivities commence, and fire up the grill – in the name of trade. There’s plenty of food to pack the holiday picnic table (see snack food and red meat options above).
As both our countries gather to celebrate, let’s also remember the deep economic ties that bind us with our neighbor to the north. Here are the holiday facts:
U.S. trade with Canada topped $627 billion last year.
Canada is also America’s largest agricultural export market. Agricultural exports to Canada totaled $23 billion in 2016, according to the Office of the United States Trade Representative.
- Prepared food: $1.9 billion
- Fresh vegetables: $1.8 billion
- Fresh fruit: $1.6 billion
- Snack food: $1.3 billion
U.S. imports of agricultural products from Canada totaled $22 billion in 2016, USTR reports.
- Snack foods: $4.0 billion
- Red meats: $2.2 billion
- Processed fruit & vegetables: $1.4 billion
Canada is the top U.S. export market in the world. In addition, our nations’ supply chains and workforces our deeply interwoven and interdependent, particularly in critical sectors like automotive, information technology and energy production.
So as we celebrate this holiday weekend, let’s toast our economic partnership and success and let trade freedom ring.