Merchandise Trade| Canada| October 2020
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In October, Canada's merchandise exports increased 2.2%, partially on higher exports of pharmaceutical products. Imports rose 1.9%, in part due to higher imports of cell phones. As a result, Canada's merchandise trade deficit with the world was virtually unchanged at $3.8 billion in October. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/201204/dq201204b-eng.htm
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Merchandise Trade| Canada| October 2020
- 1. October 2020 Merchandise Trade – Canada PAUL YOUNG OCTOBER 2020
- 2. Paul Young - Bio • CPA, CGA • Academia (PF1, FA4, FN2, MU1. and MS2) • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Costing and Profitability Solutions • SME – Emerging Technology • SME – Business Process Change • SME – Financial Solutions • SME – Macro/Micro Indicators • SME – Supply Chain Management Contact information: paul.young@ca.ibm.com
- 3. Agenda North America Recovery Commodity Pricing Justin Trudeau and Natural Resources Natural Resources Analysis Exports – July 2020 Trade Surpluses/(Deficits) Trade by key countries CBC Press Release / Trade Supply Chain Management USMCA Trade Softwood Lumber Pacific Trade Pact Near Shoring Biden vs Trump What’s next Other sources / Training options
- 5. Commodity Prices SOURCE – SCOTIABANK - HTTPS://WWW.SCOTIABANK .COM/CA/EN/ABOUT/ECON OMICS/ECONOMICS- PUBLICATIONS/POST.OTHER - PUBLICATIONS.COMMODITI ES.SCOTIABANK- COMMODITY-PRICE- INDEX.NOVEMBER-25-- 2020.HTML
- 6. Key Commodities Source – BMO
- 8. Trade Surpluses (Deficits) SOURCE - HTTPS://WWW150.STATCAN.GC.CA/N1/DAILY-QUOTIDIEN/201204/DQ201204B-ENG.HTM
- 9. Natural Resources and Food Products Source - https://www150.statcan.gc.ca/n1/daily-quotidien/201104/dq201104a-eng.htm
- 10. Metals Source – Stats Canada
- 12. Supply Chain Management Is that not why we have the combine act? https://www.tc.gc.ca/eng/policy/acg-acgb-mergers- guidelines-draft-3143.html Mergers and acquisitions are important, but they do need to review to ensure they are in the best interest of both the sector and the country - https://tnc.news/2020/06/02/conservative- motion-to-stop-china-from-buying-struggling- firms-passed/ Should we not be focusing on identifying what products should be strategic? https://www.slideshare.net/paulyoungcga/how-best- to-reshore-supply-chains Errors with medical supplies https://thepostmillennial.com/trudeau-governments- medical-equipment-blunder-cost-taxpayers-1-8- billion
- 13. WTO The WTO needs to be reformed including revisiting the status of various countries within the organization @jimcarr_wpg it never seems to amaze me how little you grasp of both supply management and fair-trade practices. - https://www.slideshare.net/paulyoungcga/2 019-election-global-trade-barriers-and- protection-wto-canada-september-2019 @CPC_HQ and previous govts grasp the need for trade with other countries, but not your govt! Latest work on Global Trade - https://www.slideshare.net/paulyoungcga/h ow-does-the-world-reform-global-trade
- 14. USMCA Start date – July 1, 2020 Steep learning curve automotive - https://www.freep.com/story/money/cars/2020/07/02/nafta-replacement-usmca- launches/5360048002/ Japan Automotive - https://asia.nikkei.com/Business/Automobiles/Japan-auto- companies-triple-Mexican-pay-rather-than-move-to-US
- 15. Pacific Trade Pact @mary_ng CPTPP has been in place for nearly two years. Exports from key countries were higher in 2018 than in 2019. It seems that Canada has many issues with getting goods to market, right Mary? https://www.slideshare.net/paulyoungcga/pacific-pacific-trade-agrement-analysis-and-commentary, https://www.slideshare.net/paulyoungcga/merchandise-trade-canada-july-2020 and https://www.slideshare.net/paulyoungcga/trade-and-investment-canada-and-south-america Exports could be 20% higher or about 125M. For each $1M of exports there are 5,500 jobs. More emphasis needs to be on fair trade and investment deals to support getting goods to market - https://www.slideshare.net/paulyoungcga/how-to-address-issues-facing-getting-goods-to-market
- 16. Softwood Lumber dispute Source - https://financialpost.com/ne ws/economy/canada-wont- back-down-in-softwood- lumber-dispute-with-u-s- trudeau-vows or https://globalnews.ca/news/ 7312096/canada-softwood- lumber-tariff-dispute-u-s- trudeau/
- 17. Nearshoring Key areas of focus for 2020 - https://www.pslcorp.com/nearshoring-outsourcing/5-nearshore-development-trends-to-watch-closely-in-2020/ Remote work the new normal - https://medium.com/dev-genius/remote-work-is-a-new-normal-save-costs-with-it-nearshoring-2f471cea3a91 Better control of supply chain management - https://www.mhlnews.com/global-supply-chain/article/22050699/why-nearshoring-is-a-better- option-for-north-american-companies or https://www.slideshare.net/paulyoungcga/how-best-to-reshore-supply-chains Drug production - https://www.fiercepharma.com/manufacturing/pharma-pushes-back-u-s-legislation-to-bring-drug-manufacturing-stateside Chip production - https://www.politico.com/newsletters/morning-trade/2020/06/11/lawmakers-unveil-bill-to-boost-semiconductor-production- 788432 Reshoring of manufacturing - https://www.theglobeandmail.com/business/commentary/article-will-the-reshoring-trend-revive-canadian- manufacturing/ or https://policyoptions.irpp.org/magazines/june-2020/is-this-canadas-last-chance-to-revive-manufacturing-and-long-term- prosperity/ Technology and logistics - https://news.microsoft.com/2020/06/25/hitachi-and-microsoft-form-a-strategic-alliance-to-advance-next-generation- digital-solutions-for-manufacturing-and-logistics-across-southeast-asia-north-america-and-japan/ More development of natural resources - https://www.slideshare.net/paulyoungcga/canada-natural-resources-forestry-sector-june-2020-whats- next Getting oil and natural gas to market - https://www.slideshare.net/paulyoungcga/what-is-going-on-with-oil or Irving Oil - https://www.trendsmap.com/twitter/tweet/1278418560600154112
- 18. Biden vs Trump Source - https://www.just-auto.com/analysis/the-2020-us-presidential-election-a-quick-auto-industry-guide_id198588.aspx
- 19. Biden vs Trump Source - https://www.just-auto.com/analysis/the-2020-us-presidential-election-a-quick-auto-industry-guide_id198588.aspx
- 20. Biden vs Trump Source - https://www.just-auto.com/analysis/the-2020-us-presidential-election-a-quick-auto-industry-guide_id198588.aspx
- 21. Other Sources If you like to learn more about trade and/or other subjects as part of your professional learning and development then feel free to review my material on https://www.udemy.com/ (search Paul Young CPA CGA
- 22. Summary Canada has a job quality issue - https://www.slideshare.net/paulyoungcga/job-quality-canada-vs-usa Canada and GDP - https://www.slideshare.net/paulyoungcga/canadas- gdp-july-2020 Wages / Employment - https://www.slideshare.net/paulyoungcga/analysis-of-wages-and- employment Pandemic - https://www.slideshare.net/paulyoungcga/management-of- a-pandemic-crisis Throne speech - https://www.slideshare.net/paulyoungcga/what-is-next- for-canada-throne-speech-september-23-2020 Global Economy - https://www.slideshare.net/paulyoungcga/what-is- next-for-the-global-economy-september-2020 Canada still has issues with capacity - https://www.slideshare.net/paulyoungcga/canada-and-world-post- covid19 The world likely will be looking for AG shipments along with Natural Resources and food processing AG Sector - https://www.slideshare.net/paulyoungcga/agriculture-and- food-policy-what-needs-to-happen Natural Resources - https://www.slideshare.net/paulyoungcga/canada-and-natural- resources-development-and-export-strategy