Canada Seeks New Markets Amid Frayed US Trade Ties

Canada is repositioning itself in the global economy as trade ties with the US continue to fray. Prime Minister Mark Carney has been courting foreign investment and closer ties with the European Union and Asian economies.

Julian Karaguesian, a former special advisor to Canada's Department of Finance, says Carney is seeking new markets for Canada's energy and critical minerals industries.

The country's exports to the US fell by 4 percent in the last year, but increased by 11 percent to other countries. This has led to an adjustment in Canada's trade balance, according to Karaguesian.

Karaguesian believes that while trade ties between Washington and Ottawa may recover from recent tensions, they may be permanently altered. He thinks that Canada is an attractive bet for investors due to its real equity stakes in infrastructure, energy, and other areas.