Geopolitical tensions and protectionist policies are forcing a rethink of what we trade and with whom we trade. The conversation is moving from reshoring to friendshoring—the idea that trade should shift to trusted economies, rather than be open—but it’s not clear what friendshoring hopes to achieve.
If friendshoring is meant to reduce security risks, what products are critical and with which countries trade is vulnerable to disruption or protectionist actions? If friendshoring is meant to promote ties with friendly nations, how quickly might change occur? And if friendshoring is meant to economically hurt “unfriendly” countries, how should Canada position itself? Read the issue briefing to get our full analysis.
Rising political tensions and protectionism
The carrot and the stick of the friendshoring agenda