China may now be the largest trading partner of the United States, but Canada still has a bigger influence on economic growth in the world’s largest economy.
It was a tough autumn for the Canadian psyche. Global oil prices plateaued around $45 (US) a barrel, crushing the dream of becoming an energy superpower. Canada lost its status as one of the fastest-growing members of the Group of Seven nations; according to the October update of the International Monetary Fund, we now are No. 5, ahead of only Italy and Japan. And then last month, the U.S. Commerce Department released trade data for September. Those figures showed that America and China swapped goods worth $441.6 billion (US) in the first nine months of the year, compared with $438.1 billion between the U.S. and Canada.
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