I totally understand the advantage of the lower Canadian dollar. But, saying the US imports good overseas is a bit disingenuous to this conversation. Their dollar has significantly more buying power internationally, so it isn't really a fair comparison. And, I totally agree, Canada and Australia are different. We have the world's largest economy about an 90 minutes away from Toronto, and 90% or the Canadian population is within 100km of the US border. The reality is, we got lazy. We expected the US to respect us and pay a fair price (maybe even slightly discounted) for our goods. Trump has ended that. Carney is busy negotiating REAL trade deals with Europe and Asia. The whole Alberta to pacific pipeline is so we avoid the US, and make more money on the international oil market (Canadian crude is discounted going into the US).Even the U.S. imports capital goods from abroad. The other inputs Canadian labor at 72 cents U.S. and the abundant raw materials per capita are the advantage. If you were really interested and open-minded, you could read one of the Canadian banks' good white papers on Canadian productivity and business investment.
I have often heard the Canadian economy compared to the Australian economy. The Australian economy is thousands of miles away from all the other major markets. China is the closest and a brutal competitor only interested in commodities. Canada's proximity to the U.S. market is an incredible geographic advantage.
I don't think the Canadian corporate tax rates are low considering both Federal and Provincial rates. Canadian government policy such as taxation and regulation is more comparable to the European framework. However, Europe struggles with its own growth and productivity. Canada is also not in Europe.
As for the tax rate, Ontario (both provincial and federal) is less than states like New York, California, Illinois, Michigan, etc. Sure, there are states that don't have corporate taxes, (Texas has a "franchise" tax for certain businesses, though I cannot remember exactly how that works). Canadian businesses also have more statutory holidays and provide more holiday time. They also don't have to have employer sponsored health care. Again, it is not an apples to apples comparison.






