Accurate Headline: After three years of U.S. recession, Canada looks East
The WSJ wants to pretend that Barack Obama is responsible for Canada making a good decision:
Prime Minister Stephen Harper and President Nicolas Sarkozy of France signed an agreement Friday to begin negotiations for a free trade pact between Canada and the European Union. A Canada-EU study released last week outlines the joint economic benefits of such a partnership, with two-way trade estimated to increase 22.9% by 2014.
I guess the WSJ is more impressed with Barry O’s G-D-like powers than I am. Or maybe they just can’t read data:
Exports to the United States:
Imports from the United States:
Imports steadily rising, exports falling for the last three years (and basically flat to 2004), with 2008 probably not being great and 2009-2010 already looking dicey.
It’s a great move for Canada, but any delusion that it is Obama-, not data-driven should be confined to the WSJ editorial page.