Canadian Customs Broker Blog | Clearit.ca

Canadian Banks Need to Stay Competitive in American Business

American business is vital to Canadian banks As NAFTA shakes up trade relations between Canada, Mexico, and the United States, Canadian banks are starting to get worried.   Fair and open trade between the three countries opened the doors up to a lot of available business—business that’s starting to get a little uncertain.   Many, if not all, of the big banks in Canada do business in America. The Bank of Montreal, for example, has...

Scotch Whiskey Exports Rise as Canadian Exports Fall

Canadian spirits had a hard year, with exports falling 5% as a liquor duty increased from 2% to 7.8%. While the American market for spirits was looking like a well-armed competitor with its own cut to duty fees, it is Scotland that has really stepped up and started to export increasing quantities of Scotch whiskey. Scotland is a giant in the worldwide whiskey market, with sales and trade numbers that Canada can’t even come close to. Cana...

Canada’s Trade Deficit—Or Surplus—is a Hot Button Issue

As an uncertain world economy—and uncertain NAFTA prospects at home—shake up world industries and trade, Canada’s trade balance has been in deficit for over a year. While narrowing deficit margins were reported in January of 2018, they increased again in February, widening to 2.69 billion. Exports are rising with higher automotive sales, but so are imports. Energy purchases beyond the border helped raise imports 1.9%, which isn’t anywh...

Overlapping Import and Export Markets Present Opportunities for Exporters and Importers

If you’re an American, that cell phone you’re using was probably manufactured in another country—and this is despite the fact that cell phones made in America rank 7th in the United States’ exports. It’s a similar situation for gas, vehicles, computers, and more. In fact, 6 out of 10 of the top imports into America are part of their top 10 exports. Americans, it seems, crave goods exported from outside the country. If you’re Canadi...

Brexit Is Already Hurting UK Companies.

Talks of Brexit seem to have somewhat cooled down since the 2016 vote. If you somehow haven’t heard of it, Brexit refers to the the British Exit from the European Union. The United Kingdom’s decision to part ways with the EU was finalized after a majority Leave vote won during the June 23 referendum in 2016. Almost a year later, on March 29, 2017, Prime Minister Theresa May submitted an official two-year leave notice to the EU. As of Marc...