Canadians are increasingly buying local products over U.S

economictimes.indiatimes.com

A rise in Canadian nationalism, partly due to U.S. trade policies, is leading to fewer Canadians traveling to the United States and more buying locally-made products. This shift is affecting American businesses in several sectors, especially travel agencies and distilleries. Travel agents in the U.S. report a sharp decline in bookings from Canada. Catherine Prather, president of the National Tour Association, noted that some businesses could see bookings drop by 75% this year. She pointed out that trade uncertainty and currency exchange rates are causing many Canadians to cancel their trips to the U.S. According to the U.S. Travel Association, even a 10% decrease in Canadian visitors could result in over $2 billion in revenue losses and put 14,000 jobs at risk. As Canadians look to support local products, retailers in Canada are benefitting. Loblaw, Canada's largest food retailer, reported a 10% increase in sales of Canadian products recently. American distilleries are also feeling the pinch. A consultant highlighted that Canada is a key market for U.S. spirits, making up over 31% of U.S. distilled spirit exports. Some businesses, like Brough Brothers distillery in Kentucky, have lost potential deals due to ongoing trade tensions. Experts believe that the Buy Canadian movement could ultimately help boost Canada’s economy. If every Canadian family spent just $25 more on local goods each week, it could increase Canada’s GDP by 0.7% and create around 60,000 new jobs. Spending less on international travel could lead to even more significant economic gains. Overall, the rising support for Canadian products reflects a growing trend of nationalism that is reshaping trade relationships between the two countries.


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