Navigate Up
Sign In
Alberta’s exposure to tariffs, part 2

Alberta’s exposure to tariffs, part 2

Posted on: 6/14/2018 | Author: ATB Financial's Economics + Research Team

T​​he Owl is taking a deeper look into Alberta's trade relationship with the US. We asked ATB's team that researches and writes Perch to help. The following is the second of a three-part series, a petite version of Perch.

It’s no secret that the United States is Canada’s most important customer with over three-quarters of what we sell to the world heading south of the border. The US looms even larger over Alberta with 87.1 per cent of our exports sold into the US market in 2017.

In per capita terms, Alberta sold the US $20,448 worth of goods last year. That’s $9,149 higher than the Canadian average and the highest level in the country.

We’ve tied our horse to the largest economy in the world and it has paid off.

But our dependence on the US market is also a significant challenge. When the American economy falters, we feel its pain. And when US trade policy leans toward greater protectionism and the imposition of tariffs on Canadian goods (as it is currently), the success of our export sector is put in jeopardy.

The actual effects on our economy will be determined by the fate of the North American Free Trade Agreement, the duration and effectiveness of existing US tariffs, the introduction of any new tariffs, our ability to find alternative customers and a wide array of local, regional and international economic ripple effects. Like many relationship status descriptions on Facebook, it’s complicated.

This much is clear: our economic prosperity relies heavily on exports to the US and, in turn, US protectionism is not good for the Alberta economy.

In tomorrow’s Owl, we examine the specific products Alberta exports to the United States.

Alberta exports to the US, graph​ ​​​​​

Share this article:

GlassdoorThis icon serves as a link to download the
eSSENTIAL Accessibility assistive technology app for individuals with physical disabilities. It is
featured as part of our commitment to diversity and inclusionDiversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Supplier Resources

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial