How much is trade between Saskatchewan and the U.S. worth?

Saskatchewan is heavily reliant on trade with the United States, with more products heading south of the border than coming into the province. With the recent implementation of tariffs by U.S. President Donald Trump, there are concerns about the impact on Saskatchewan’s economy.

According to Statistics Canada data, about $26.7 billion worth of Saskatchewan’s international exports go to the U.S., while only about $13 billion in merchandise comes into the province. The top exports to the U.S. include crude oil, potash, canola products, and processed uranium, making up about 74 per cent of the province’s exports to the U.S.

One of the major concerns with the tariffs is the impact on the potash industry. Canada provides 85 to 90 per cent of potash imported into the U.S., and Saskatchewan is the main source of this mineral. The tariffs on potash could lead to higher prices on food products that rely on grain, affecting farmers and consumers alike.

On the other hand, Saskatchewan does have trade relationships with non-U.S. countries, which could help mitigate the impact of the trade war. Dean Keith Willoughby of the Edwards School of Business at the University of Regina suggests that Saskatchewan could leverage America’s dependence on potash and heavy crude oil in response to the tariffs.

In terms of imports into Saskatchewan from the U.S., heavy vehicles and machinery are the most valuable commodities. Construction materials are also on Canada’s list of retaliatory tariffs, raising concerns for the construction industry in the province. Despite these challenges, Shannon Friesen, president and CEO of the Construction Association of Saskatchewan, believes that the industry is resilient and will adapt to the changes.

Overall, the trade war with the U.S. poses challenges for Saskatchewan’s economy, particularly in key industries like potash and construction. It remains to be seen how the province will navigate these challenges and find ways to mitigate the impact of the tariffs on its economy.