Quebec’s Trade with the European Union

With protectionism on the rise around the world, especially in the United States, and the North American Free Trade Agreement (NAFTA) renegotiations dragging on, the issue of more diverse export markets for Quebec is resurfacing. Merchandise shipments to trade blocs like Europe and Asia have gained ground in the last few years, while the share going to the U.S. has declined. This trend should accelerate in the coming years as businesses jump on new opportunities overseas. Canada’s recent trade agreements, for example the agreement with the European Union (EU) and the one with several Pacific rim countries, expand the opportunities for Quebec’s international exports.