When the United States sneezes, Canada catches a cold. And while British Columbia is less exposed to the U.S. than other provinces, it can’t recover economically from COVID-19 when its largest trading partner is still fighting off the virus.
“There won’t be a recovery to speak of unless the U.S. economy also regains some momentum,” said Jock Finlayson, executive vice-president and chief policy officer at the Business Council of British Columbia (BCBC).
Roughly half of B.C.’s exports flow south. Before the provincial pandemic peaked and the U.S. crisis intensified, the value of U.S.-bound exports was unchanged year-over-year in March.