Canada and the United States have a special relationship. Shared location, comparable ideals, same interests, deep personal relationships, and significant, multifaceted economic links form the foundation of the Canada-United States cooperation. Our two countries have a strong and long-standing defense and national security alliance, which provides both countries with more security than they could achieve independently. Trade and investment between Canada and the United States supports millions of jobs and contributes to the safe and efficient flow of goods and people over the border, which is critical to both nations' economic competitiveness and success. The Canada-United States-Mexico Agreement (CUSMA)Footnote1 strengthens Canada's strong commercial links with the United States and Mexico while providing major economic benefits to all three countries.
Security and defense cooperation
Canada and the United States are important allies and defense partners, and we work closely together to address international crises and protect common values abroad. Our shared goals of strengthening continental defence and ensuring global peace and security have resulted in extensive cooperation between our respective defense and national security agencies.
Trading
Canada and the United States have the world's most comprehensive trading relationship, supporting millions of jobs in both countries. We are each other's top trading partners, with approximately $3.6 billion in goods and services crossing the border every day in 2023. Many of these items require co-investment and co-development, making our networks extremely linked. Canada and the United States also have a strong investment relationship. The United States is the single largest investor in Canada, and Canada was the largest source of foreign direct investment (FDI) in the United States as of the end of 2022. In addition, Canada is the single greatest foreign energy supplier to the US.
Environment, Water, and Climate Change
Canada and the United States are close collaborators in climate and environmental action. By ensuring regulatory alignment across integrated sectors, Canada and the United States have strengthened economic ties and made significant progress in reducing methane emissions, establishing a critical minerals supply chain, accelerating the transition to zero-emission vehicles, and moving toward a net-zero grid. I believe a good analogy is that we are like brothers. We largely speak the same language. However, one brother had to go and become quite fluent in French. We argue on a number of topics. Sometimes one brother simply shakes his head at the other sibling's actions. We mainly get along, and we enjoy visiting one other's homes. (Usually) When the going gets tough, we'll defend each other against any threat.
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