Coming back to your question, Canadian companies are exporting to the world, whether directly or indirectly.
First, it's important to recognize that in strengthening our integration with American partners, we are not just selling goods and services to Americans; we are working with Americans to produce products for sale to the rest of the world. That's why anything that gets in the way of Canada-U.S. flows can be particularly destructive. So when you look at the trade statistics and say the U.S. dominates, we have to keep in mind that's not necessarily the final destination of what we sell.
That said, we've been very active in encouraging stronger relationships with key partners around the world. We worked very hard with our European counterparts in the business community there to encourage the launch of these Canada-EU discussions. My colleague Sam Boutziouvis was instrumental in working with his counterparts in the Confederation of Indian Industry in launching a process we hope is going to lead to some serious negotiations on a bilateral basis with that country.
I think we have to recognize that it's not a matter of trying to choose whether we should focus on the U.S. or focus anywhere. The fact is, in a world of integrated supply chains, exporting is a universal activity, if I can put it that way. In that sense, what's really important is taking the kind of measure that is going to help across the board.
For instance, I would note one of the important measures in the latest budget was the unilateral decision to bring down or eliminate tariffs on imports of industrial goods. Why? Because that's recognizing that free trade is going to help Canadian companies make the investments to expand their operations, invest in new technologies to grow their export sales. I think similar measures were taken in terms of capital cost allowance.
I hope the committee is taking due note of the fact that the New Democratic Party is in favour of corporate tax cuts on that front. I'm really glad to see that. I take note of that and take great encouragement from it.