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Fur Trade in Canada (Plain-Language Summary)

The fur trade began in the 1600s in what is now Canada. It continued for more than 250 years. Europeans traded with Indigenous people for beaver pelts. The demand for felt hats in Europe drove this business. The fur trade was one of the main reasons that Europeans explored and colonized Canada. It built relationships between Europeans and Indigenous peoples.

(This article is a plain-language summary of the fur trade. If you are interested in reading about this topic in more depth, please see our full-length entry, Fur Trade in Canada.)

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Capitalism in Canada

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.

Article

Customs and Excise

Customs and excise, taxes on goods, are one of the world's oldest sources of government revenue. Customs duties are applied on imported products while excise duties and taxes are generally applied on goods of domestic manufacture, notably liquor and tobacco.

Article

Canada and the G7 (Group of Seven)

The G7, or Group of Seven, is an international group comprising the governments of the world’s largest economies: Germany, France, Italy, Japan, the United Kingdom, the United States and Canada. It was founded as the G6 in 1975 and became the G7 with the addition of Canada in 1976. The Group is an informal bloc; it has no treaty or constitution and no permanent offices, staff or secretariat. The leaders of the member states meet at annual summits to discuss issues of mutual concern and to coordinate actions to address them. The meeting location and the organization’s presidency rotates among the members. The European Union is also a non-enumerated member, though it never assumes the rotating presidency.

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International Trade

International trade is the buying and selling of goods and services between members of different countries. This exchange has been a key part of the Canadian economy since the first settlers came. Canadian settlers depended on exports of resources such as timber and grain (see Timber Trade History; Wheat). In the 20th century, Canada’s exports shifted to services, manufactured goods and commodities such as oil and metals.

Since the 1980s, Canada has signed free trade agreements with dozens of countries to increase global trade and investment.

Canada’s three biggest trading partners are the United States, the European Union and China. The United States is Canada largest trading partner by far. However, trade with China grew quickly in the 2010s, and this trend will likely continue.

Click here for definitions of key terms used in this article.

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Aquaculture

Aquaculture is the human-controlled cultivation and harvest of freshwater and marine plants and animals. Synonyms include fish farming, fish culture, mariculture, fish breeding and ocean ranching.

Macleans

Job Security and Outsourcing

This article was originally published in Maclean’s magazine on September 30, 1996. Partner content is not updated.

So the meeting could have gone better. There was Mark Campbell, president of his own printing company, presenting to Kraft Canada Inc., executive level, in suburban Toronto. Initially, the meeting played exactly as Campbell had hoped.

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Canadian Free Trade Agreement

The Canadian Free Trade Agreement (CFTA) is an inter-governmental trade agreement regulating trade within Canada. It took effect on 1 July 2017. The goal of the agreement was to reduce or eliminate regulations against the free movement of goods, services, and investments within Canada. The officials who framed the new deal said they wanted to ensure that Canadian firms got the same access to the Canadian market as firms from the country’s international trading partners. CFTA also more closely matches the terms of the Canada-European Union Comprehensive Economic Trade Agreement (CETA), which began taking effect in 2017.

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Canadian Wheat Board

The Canadian Wheat Board (CWB) was an agricultural marketing board headquartered in Winnipeg, Manitoba. Established in 1935, for much of its history it was the sole buyer and seller of Prairie wheat and barley destined for export from Canada or for human consumption in Canada. Referred to as the “single desk,” under this model it was illegal for farmers to sell their grain to anyone other than the CWB. Following a change in government policy, the single-desk model was discontinued in August 2012, and the CWB became a voluntary marketing organization. In July 2015, G3 Global Grain Group purchased a majority stake in the CWB, creating a new firm called G3 Canada Ltd. The company’s headquarters remain in Winnipeg.

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Imports to Canada

In international trade, imports refer to goods and services purchased by Canadian residents from residents of other countries. Billions of dollars of goods and services cross Canada’s border each year. In 2019, Canadians imported a total of $768 billion worth of goods and services. Canada’s largest source of imports by far is the United States. (See Canada-US Economic Relations.) The European Union, China and Mexico are also major sources of imported goods and services.

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General Agreement on Tariffs and Trade (GATT)

The General Agreement on Tariffs and Trade (GATT) was an international trade agreement. It was signed by 23 nations, including Canada, in 1947 and came into effect on 1 January 1948. It was refined over eight rounds of negotiations, which led to the creation of the World Trade Organization (WTO). It replaced the GATT on 1 January 1995. The GATT was focused on trade in goods. It aimed to liberalize trade by reducing tariffs and removing quotas among member countries. Each member of the GATT was expected to open its markets equally to other member nations, removing trade discrimination. The agreements negotiated through GATT reduced average tariffs on industrial goods from 40 per cent (1947) to less than five per cent (1993). It was an early step towards economic globalization.

Macleans

Dollar Falls

In Quebec, they call it referendum fever. And of all those who fell into its grip last week, perhaps no one was more surprised than René Lepage, director of the community health clinic in the lower St. Lawrence River town of Matane.

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Global Affairs Canada (GAC)

Global Affairs Canada (GAC) was originally founded as the Department of External Affairs in 1909 by Prime Minister Sir Wilfrid Laurier. The operations, mandate and title of the department have evolved over the years. Although legally incorporated as the Department of Foreign Affairs, Trade and Development, its public designation since 2015 has been Global Affairs Canada.  The department is responsible for overseeing Canada’s international engagement, including diplomatic relations, providing consular services, promoting international trade and international law, and leading Canada’s international development and humanitarian assistance.

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Barter

Barter is the exchange of one commodity or service for another without the use of money as a medium of exchange. A barter agreement (also called "countertrade") among countries calls for the exchange of stated amounts of goods.

Macleans

Mexico's Peso Crisis

He has been dubbed the Accidental President - a shy, uncharismatic technocrat who won the highest office in Mexico almost by default after the assassination of the chosen candidate. And ever since he was sworn in on Dec.

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Retail Trade

There are 2 broad categories of retail-trade organization: retail chains, which operate 4 or more stores in the same kind of business under the same ownership, and independent retailers operating 1 to 3 stores.