Canada says trade beyond the US rose 17%. Can diversification cushion tariffs?

At the G20 trade ministers’ meeting on October 1, Canadian Trade Minister Maninder Sidhu said trade with countries outside the United States had increased 17%, adding about $33 billion over the past year. He was promoting a broader effort to deepen trade ties, including talks with India, as new US trade restrictions add pressure.

What it means: Can new markets quickly replace US buyers? Not overnight. Building customers, contracts and supply routes takes time, and one year of growth does not show that Canada has reduced its dependence on its largest trading partner. The figure is a sign of diversification underway, not proof that tariff exposure has disappeared.