MacKay: U.S. Needs Canada as Much as We Need Them

The video discusses Canada's trade relations with the US, highlighting the importance of proactive engagement and the challenges posed by the US trade deficit. It explores the potential impact of Trump's presidency on trade agreements like NAFTA and emphasizes the need for Canada to strategically position itself in global trade dynamics, including relations with the UK post-Brexit. The video also addresses the challenges in aligning Canadian and US policies, particularly on issues like climate change and security.

Why is it important for Canada to engage early and often with US trade secretaries?

• To establish a new trade agreement

• To ensure Canada's interests are considered

• To increase the trade deficit

• To reduce tariffs on Canadian goods

What is a significant challenge for Canada in its trade relationship with the US?

• Lack of historical ties

• Being a smaller market

• Being less integrated into the US supply chain

• Having more trade cards to play

What is a potential benefit of Canada's proximity to the US in trade relations?

• It increases Canada's bargaining power

• It reduces the need for diplomatic engagement

• It allows for easier renegotiation of trade agreements

• It strengthens supply chain integration

How can Canada leverage its position in trade agreements to benefit from Brexit?

• By forming a new trade bloc with the UK

• By strengthening ties with both the UK and US

• By exiting NAFTA

• By increasing tariffs on UK goods

What is a potential issue when Canadian and US governments have differing policy stances?

• It strengthens bilateral agreements

• It results in a trade surplus

• It complicates diplomatic relations

• It leads to increased trade tariffs

What is a key factor that could help Canada maintain strong trade relations with the US?

• Reducing exports to the US

• Aligning completely with US policies

• Maintaining strong business ties

• Increasing the trade deficit

What is a potential consequence of Canada leading with climate change discussions in US meetings?

• It would increase Canada's trade deficit

• It could lead to immediate policy changes

• It might not resonate well with US priorities

• It could strengthen trade relations