{"id":10943,"date":"2025-04-17T16:16:44","date_gmt":"2025-04-17T16:16:44","guid":{"rendered":"https:\/\/www.rbc.com\/en\/?post_type=rbc_tl&#038;p=10943\/"},"modified":"2025-05-09T06:04:52","modified_gmt":"2025-05-09T06:04:52","slug":"125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors","status":"publish","type":"rbc_tl","link":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","title":{"rendered":"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-b-qtr mob-pad-b-qtr\" style=\"border-radius:0x\">\n<p>U.S. President Donald Trump believes autos, steel and aluminum, lumber, pharmaceuticals and semiconductors are the five strategic sectors that will drive American industrial revival. His overarching plans involves cutting imports (and trade deficits) and onshoring domestic production in each of the sectors and related industries. That\u2019s emerging as a challenge for some of the U.S.\u2019s top sector suppliers, including Canada.<br>These five domestic sectors rely heavily on shipments south of the border and are of strategic importance to Canada.<\/p>\n\n\n\n<p>U.S. tariffs on the Strategic 5 will likely hurt Canada\u2019s economic prospects and could trigger layoffs and flight of capital in sectors that are vital for our energy and national security.<\/p>\n\n\n\n<p>Here\u2019s a look at the importance of each of these sectors to the Canadian economy:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" height=\"731\" width=\"1024\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/TL-Graphs-Canada-exports-in-key-sectors-2048x1461-1.png?quality=80&amp;w=1024\" alt=\"\" class=\"wp-image-10945\" style=\"aspect-ratio:1.4027397260273973;width:1170px;height:auto\" srcset=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/TL-Graphs-Canada-exports-in-key-sectors-2048x1461-1.png 2048w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/TL-Graphs-Canada-exports-in-key-sectors-2048x1461-1.png?resize=300,214 300w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/TL-Graphs-Canada-exports-in-key-sectors-2048x1461-1.png?resize=768,548 768w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/TL-Graphs-Canada-exports-in-key-sectors-2048x1461-1.png?resize=1024,731 1024w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/TL-Graphs-Canada-exports-in-key-sectors-2048x1461-1.png?resize=1536,1096 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-automotive\">Automotive<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Exposure to the U.S. market:<\/strong>&nbsp;$75.6 billion in exports (2024)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Total U.S. market:<\/strong>&nbsp;Sales of new vehicles in the U.S. reached 15.8 million units in 2024\u2014second only to China\u2019s 31.3&nbsp;<a href=\"https:\/\/ottawa.citynews.ca\/2025\/01\/13\/chinas-electric-car-sales-grow-in-2024-as-sales-of-gasoline-cars-plunge\/#:~:text=A%20total%20of%2031.4%20million,Association%20of%20Automobile%20Manufacturers%20reported.\">million<\/a>.<sup>1<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Global market:<\/strong>&nbsp;Just over&nbsp;<a href=\"https:\/\/www.spglobal.com\/automotive-insights\/en\/blogs\/2025-auto-sales-forecast-global\">88.2 million vehicles<\/a><sup>2<\/sup>&nbsp;are estimated to have rolled off assembly lines worldwide last year.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Canada\u2019s role:<\/strong>&nbsp;Domestic auto- and part- makers\u2019 market share in North American auto manufacturing has fallen over time, with Mexico gaining ground. However, 92% of Canadian auto exports are still shipped south of the border.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Tariff status:<\/strong>&nbsp;For CUSMA-compliant vehicles, the 25% tariffs are currently in force and apply to the value of non-US content.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Canada\u2019s response:<\/strong>&nbsp;Ottawa\u2019s countermeasures focus on 25% tariffs on all U.S. auto parts not compliant with CUSMA. The federal government and Ontario are also easing tariffs for U.S. auto parts for companies that remain committed to the Canadian auto supply chain.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The fallout:<\/strong>&nbsp;Stellantis and General Motors temporarily laid off staff in Ontario assembly plants.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>What\u2019s next:<\/strong>&nbsp;The Trump administration is mulling a potential pause on auto tariffs\u2014primarily to give carmakers more time to onshore supply chains.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-aluminum-steel-and-iron\">Aluminum, steel and iron<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Exposure to the U.S. market:<\/strong>&nbsp;91% of Canada\u2019s aluminum and 89% of its steel exports were shipped to the U.S.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Total U.S. market:<\/strong>&nbsp;The U.S. consumed 93 million tonnes of steel in 2024\u2014with Canada supplying 6.4 million metric tonnes of the total.<sup>3<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Global market:<\/strong>&nbsp;Global aluminum demand has steadily increased over the past decade, driven mostly by growth in Chinese demand and from sectors like construction and transport.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The U.S. has had an average trade deficit in aluminum with Canada of about US$7 billion annually over the past five years.<sup>4<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Canada\u2019s role:<\/strong>&nbsp;We are a top foreign supplier of aluminum and steel to the U.S., ahead of China and Mexico.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Tariff status:<\/strong>&nbsp;The 25% U.S. tariffs on aluminum and steel imports from Canada are triggered by American efforts to bolster its domestic industry. The first Trump administration had also imposed tariffs on Canadian aluminum for 14 months, lifting them after USMCA was ratified in 2019.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The fallout:<\/strong>&nbsp;Hundreds of workers in the aluminum and steel industry have already been laid off since the latest tariffs came into effect.<sup>6<\/sup>&nbsp;Ottawa is taking several measures to support Canadian workers and businesses.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>What\u2019s next:<\/strong>&nbsp;Commerce Secretary Howard Lutnick says reprieves on steel and aluminum tariffs are unlikely. With aluminum featuring on the USGS Critical Minerals list and a new probe on U.S. critical mineral imports underway, Canada\u2019s aluminum industry may need to gear up for further uncertainty.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-lumber-and-other-sawmill-products\">Lumber and other sawmill products<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Exposure to the U.S. market:<\/strong>&nbsp;$14.1 billion in exports\u201490% of Canada\u2019s total lumber exports.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Total U.S. market:<\/strong>&nbsp;The U.S.\u2019s trade deficit against Canada in softwood lumber averaged US$5.8 billion annually over the past decade, according to the U.S. International Trade Commission.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Global market:<\/strong>&nbsp;The US$788 billion global wood products market is expected to nearly double in value by 2033. We wrote recently on how&nbsp;<a href=\"https:\/\/thoughtleadership.rbc.com\/turning-the-tables-how-canada-can-shake-off-the-u-s-softwood-lumber-dispute-and-grow-the-sector\/\">Canada<\/a>&nbsp;can capture a greater share of the global opportunity.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Canada\u2019s role:<\/strong>&nbsp;Canada\u2019s domestic consumption of softwood lumber has fallen 11% from a decade ago. Domestic demand, which has generally followed housing starts, reached a 23-year low in 2023.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Tariff status:<\/strong>&nbsp;Under the Biden Administration, the U.S. raised duties charged on Canadian softwood lumber imports to 14.5% in August 2024. These tariff rates remain in place with additional hikes on the horizon.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The fallout:<\/strong>&nbsp;The lumber industry is already facing regulatory headwinds that have forced closures of sawmills in B.C.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>What\u2019s next:<\/strong>&nbsp;U.S. tariffs on softwood lumber imports are set to increase to 34.5% and could come into effect in the fall.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-pharmaceuticals\">Pharmaceuticals<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Exposure to the U.S. market:<\/strong>&nbsp;$10.6 billion in exports.<sup>7<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Total U.S. market:<\/strong>&nbsp;Prescription drug sales in the U.S. were $716 billion in 2022<sup>8<\/sup>&nbsp;, or about 2.8% of U.S. GDP.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Between 2019 and 2024, the U.S. has run an annual $1.2 billion trade deficit in pharmaceuticals with Canada, according to U.S. International Trade Commission data.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Global market:<\/strong>&nbsp;Pharma R&amp;D spending is expected to top&nbsp;<a href=\"https:\/\/www.ifpma.org\/wp-content\/uploads\/2025\/02\/IFPMA_Always_Innovating_Facts__Figures_Report.pdf\">US$200 billion<\/a><sup>9<\/sup>&nbsp;this year.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Canada\u2019s role:<\/strong>&nbsp;The U.S. is Canada\u2019s primary pharmaceutical export market, accounting for 78% of its pharma exports in 2024. Japan, the next largest export market, received 5% ($720 million) of exports, followed by China, at 2% of exports, or $276 million. The Canadian pharma industry employed 35,367 workers in 2024.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Tariff status:<\/strong>&nbsp;Originally exempt from the April 2 reciprocal tariffs, the White House has now officially launched an investigation into the national security impacts of pharmaceutical imports.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The fallout:<\/strong>&nbsp;Industry is warning of a spike in costs of drugs and even shortages of&nbsp;<a href=\"https:\/\/www.ft.com\/content\/3d1cebdd-3670-4e8d-9bfc-2a6398ede14b\">key medicines<\/a>.<sup>10<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>What\u2019s next:<\/strong>&nbsp;Major tariffs on pharma could be on the horizon.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-semiconductors\">Semiconductors<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Exposure to the U.S. market:<\/strong>&nbsp;$637 million, or 56% of Canadian semiconductor exports, in 2024.<sup>11<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The U.S. runs a trade surplus in semiconductors with Canada, reporting a surplus of $764 million in 2024.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Global market:<\/strong>&nbsp;Global semiconductor sales were estimated at $627 billion in 2024.<sup>12<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Total U.S. market:<\/strong>&nbsp;Companies involved in the semiconductor ecosystem plan to invest nearly US$450-billion in more than 90 new manufacturing projects in the U.S. across 28 states, according to an&nbsp;<a href=\"https:\/\/www.semiconductors.org\/2024-state-of-the-u-s-semiconductor-industry\/\">industry association<\/a>.<sup>13<\/sup><\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Canada\u2019s role:<\/strong>&nbsp;Canada is emerging as AI hub with its clean and cheap electricity seen as a competitive edge. A recent&nbsp;<a href=\"https:\/\/thoughtleadership.rbc.com\/power-struggle-how-ai-is-challenging-canadas-electricity-grid\/\">RBC Thought Leadership report<\/a>, published before the trade turmoil, estimated Canada could attract nearly $100 billion across 20-30 data centres. Disruptions to the nascent chip supply chain could disrupt that potential capital flow.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Tariff status:<\/strong>&nbsp;The U.S. announced probe into chip and electronics imports in early April, paving the way for new tariffs.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>The fallout:<\/strong>&nbsp;Several tech companies have seen their stocks drop.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>What\u2019s next:<\/strong>&nbsp;Some reports suggest Trump will announce new tariff rates on imported semiconductors next week, with flexibility for certain companies. Secretary Lutnick said it would likely come in \u201c<a href=\"https:\/\/abcnews.go.com\/Politics\/commerce-secretary-lutnick-tariff-exemptions-electronics-temporary\/story?id=120752319\">a month or two<\/a>.\u201d<sup>15<\/sup><\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Vivan Sorab<\/strong>&nbsp;is Senior Manager, Clean Technology.<\/em><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapsebe393f5d\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapsebe393f5d\" data-dig-id=\"LP-10943-be393f5d\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Endnotes\"><span>Endnotes<\/span><span>Endnotes<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapsebe393f5d\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p class=\"mar-b-0\">1. <a href=\"https:\/\/www.coxautoinc.com\/news\/cox-automotive-forecast-dec-2024-u-s-auto-sales-forecast\/\">https:\/\/www.coxautoinc.com\/news\/cox-automotive-forecast-dec-2024-u-s-auto-sales-forecast\/<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">2. <a href=\"https:\/\/www.coxautoinc.com\/news\/cox-automotive-forecast-dec-2024-u-s-auto-sales-forecast\/\">https:\/\/www.spglobal.com\/automotive-insights\/en\/blogs\/2025-auto-sales-forecast-global<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">3. US Geological Survey<\/p>\n\n\n\n<p class=\"mar-b-0\">4. ITC DataWeb<\/p>\n\n\n\n<p class=\"mar-b-0\">5. Ibid<\/p>\n\n\n\n<p class=\"mar-b-0\">6. <a href=\"https:\/\/www.cbc.ca\/news\/canada\/ottawa\/steel-company-with-plants-in-ontario-and-quebec-slashes-workforce-citing-u-s-tariffs-1.7483206\">https:\/\/www.cbc.ca\/news\/canada\/ottawa\/steel-company-with-plants-in-ontario-and-quebec-slashes-workforce-citing-u-s-tariffs-1.7483206<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">7. Considering HS Codes 3003 and 3004.<\/p>\n\n\n\n<p class=\"mar-b-0\">8.<a href=\"https:\/\/aspe.hhs.gov\/sites\/default\/files\/documents\/4326cc7fe43bc11770598cf2a13f478c\/international-market-size-prices.pdf\">https:\/\/aspe.hhs.gov\/sites\/default\/files\/documents\/4326cc7fe43bc11770598cf2a13f478c\/international-market-size-prices.pdf<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">9. <a href=\"https:\/\/aspe.hhs.gov\/sites\/default\/files\/documents\/4326cc7fe43bc11770598cf2a13f478c\/international-market-size-prices.pdf\">https:\/\/www.ifpma.org\/wp-content\/uploads\/2025\/02\/IFPMA_Always_Innovating_Facts__Figures_Report.pdf<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">10. <a href=\"https:\/\/aspe.hhs.gov\/sites\/default\/files\/documents\/4326cc7fe43bc11770598cf2a13f478c\/international-market-size-prices.pdf\">https:\/\/www.ft.com\/content\/3d1cebdd-3670-4e8d-9bfc-2a6398ede14b<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">11. Considering HS Codes 8541 and 8542.<\/p>\n\n\n\n<p class=\"mar-b-0\">12. <a href=\"https:\/\/www.wsts.org\/76\/103\/WSTS-Semiconductor-Market-Forecast-Fall-2024\">https:\/\/www.wsts.org\/76\/103\/WSTS-Semiconductor-Market-Forecast-Fall-2024<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">13. <a href=\"https:\/\/www.wsts.org\/76\/103\/WSTS-Semiconductor-Market-Forecast-Fall-2024\">https:\/\/www.semiconductors.org\/2024-state-of-the-u-s-semiconductor-industry\/<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">14. <a href=\"https:\/\/www.wsts.org\/76\/103\/WSTS-Semiconductor-Market-Forecast-Fall-2024\">https:\/\/www.cnbc.com\/2025\/04\/15\/us-discloses-details-on-chips-probe-as-it-prepares-new-tariffs-.html<\/a><\/p>\n\n\n\n<p class=\"mar-b-0\">15. <a href=\"https:\/\/www.wsts.org\/76\/103\/WSTS-Semiconductor-Market-Forecast-Fall-2024\">https:\/\/abcnews.go.com\/Politics\/commerce-secretary-lutnick-tariff-exemptions-electronics-temporary\/story?id=120752319<\/a><\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The U.S.\u2019s focus on onshoring five strategic sectors\u2014autos, steel and aluminum, lumber, pharmaceuticals and semiconductors\u2014poses challenges for Canada.<\/p>\n","protected":false},"author":89,"featured_media":10944,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"disable_focal_point":true,"featured_image_focal_point":{"x":0.5,"y":0.5},"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"rbc_tl_category":[198],"rbc_tl_tag":[115,138],"class_list":["post-10943","rbc_tl","type-rbc_tl","status-publish","has-post-thumbnail","hentry","rbc_tl_category-the-trade-hub","rbc_tl_tag-automation","rbc_tl_tag-trade"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors - RBC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors\" \/>\n<meta property=\"og:description\" content=\"The U.S.\u2019s focus on onshoring five strategic sectors\u2014autos, steel and aluminum, lumber, pharmaceuticals and semiconductors\u2014poses challenges for Canada.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-09T06:04:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1236\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/\",\"url\":\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/\",\"name\":\"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors - RBC\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80\",\"datePublished\":\"2025-04-17T16:16:44+00:00\",\"dateModified\":\"2025-05-09T06:04:52+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/#primaryimage\",\"url\":\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80\",\"contentUrl\":\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80\",\"width\":2560,\"height\":1236,\"caption\":\"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbc.com\/en\/#website\",\"url\":\"https:\/\/www.rbc.com\/en\/\",\"name\":\"RBC\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbc.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors - RBC","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","og_locale":"en_US","og_type":"article","og_title":"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors","og_description":"The U.S.\u2019s focus on onshoring five strategic sectors\u2014autos, steel and aluminum, lumber, pharmaceuticals and semiconductors\u2014poses challenges for Canada.","og_url":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","og_site_name":"RBC","article_modified_time":"2025-05-09T06:04:52+00:00","og_image":[{"width":2560,"height":1236,"url":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","url":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","name":"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors - RBC","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/#primaryimage"},"image":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80","datePublished":"2025-04-17T16:16:44+00:00","dateModified":"2025-05-09T06:04:52+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/#primaryimage","url":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80","contentUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80","width":2560,"height":1236,"caption":"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors"},{"@type":"WebSite","@id":"https:\/\/www.rbc.com\/en\/#website","url":"https:\/\/www.rbc.com\/en\/","name":"RBC","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbc.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"$125B Exposed: What\u2019s at risk for Canada as Trump eyes 5 strategic sectors","url":"http:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\/"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"lavanyakaleeswaran"}],"creator":["lavanyakaleeswaran"],"publisher":{"@type":"Organization","name":"RBC","logo":""},"keywords":[],"dateCreated":"2025-04-17T16:16:44Z","datePublished":"2025-04-17T16:16:44Z","dateModified":"2025-05-09T06:04:52Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"$125B Exposed: What\\u2019s at risk for Canada as Trump eyes 5 strategic sectors\",\"url\":\"http:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-hub\\\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-hub\\\/125b-exposed-whats-at-risk-for-canada-as-trump-eyes-5-strategic-sectors\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/04\\\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/04\\\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"lavanyakaleeswaran\"}],\"creator\":[\"lavanyakaleeswaran\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC\",\"logo\":\"\"},\"keywords\":[],\"dateCreated\":\"2025-04-17T16:16:44Z\",\"datePublished\":\"2025-04-17T16:16:44Z\",\"dateModified\":\"2025-05-09T06:04:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbc.com\/p.js"},"featured_img":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/04\/Strategic-sectors-Post-Blog-Image_Banner-wide-scaled-1.jpg?quality=80&w=1024","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbc.com\/en\/author\/lavanyakaleeswaran\/","display_name":"lavanyakaleeswaran"},"relative_dates":{"created":"Posted 12 months ago","modified":"Updated 11 months ago"},"absolute_dates":{"created":"Posted on April 17, 2025","modified":"Updated on May 9, 2025"},"absolute_dates_time":{"created":"Posted on April 17, 2025 4:16 pm","modified":"Updated on May 9, 2025 6:04 am"},"featured_img_caption":"","tax_additional":{"rbc_tl_category":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/\" class=\"advgb-post-tax-term\">The Trade Hub<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">The Trade Hub<\/span>"],"slug":"rbc_tl_category","name":"Categories"},"rbc_tl_tag":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/topics\/automation\/\" class=\"advgb-post-tax-term\">Automation<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/topics\/trade\/\" class=\"advgb-post-tax-term\">Trade<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Automation<\/span>","<span class=\"advgb-post-tax-term\">Trade<\/span>"],"slug":"rbc_tl_tag","name":"Tags"}},"series_order":"","_links":{"self":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl\/10943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl"}],"about":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/types\/rbc_tl"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/users\/89"}],"version-history":[{"count":5,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl\/10943\/revisions"}],"predecessor-version":[{"id":11377,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl\/10943\/revisions\/11377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/media\/10944"}],"wp:attachment":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/media?parent=10943"}],"wp:term":[{"taxonomy":"rbc_tl_category","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl_category?post=10943"},{"taxonomy":"rbc_tl_tag","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl_tag?post=10943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}