U.S. Related-Party Trade Accounts for Over Half of Canada's Goods Exports to the U.S.

U.S. Census data shows that U.S. related-party trade* constituted 53% ($215 billion) of Canada's goods exports to the U.S. in 2023, compared to $189 billion in non-related-party trade. Between 2005 and 2023, U.S. related-party trade increased by 68%, outpacing the 52% growth in non-related-party trade.

* Related-party trade includes transactions by U.S. companies with their foreign subsidiaries, as well as by U.S. subsidiaries of foreign companies with their parent firms.