Search for "Free Trade"

Displaying 1-20 of 51 results
timeline event

Pacific Rim Trade Deal Takes Effect

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect after being renegotiated due to the United States’ withdrawal from the deal in 2016. The free trade deal is expected to add $4.2 billion per year to Canada’s GDP and increase Canada’s annual exports to Japan by $1.8 billion. It is expected to be especially beneficial to Canada’s pork, beef and sugar industries, while Canada’s dairy and steel industries have been critical of the pact.

Article

Canada and NAFTA

The North American Free Trade Agreement (NAFTA) was an economic free trade agreement between Canada, the United States and Mexico. Designed to eliminate all trade and investment barriers between the three countries, the free trade agreement came into force on 1 January 1994. In addition to being one of the most ambitious trade agreements in history, NAFTA also created the world’s largest free trade area. It brought together two wealthy, developed countries (Canada and the United States) with a less developed state (Mexico). The agreement built on the earlier Canada-US Free Trade Agreement (CUSFTA), which came into effect on 1 January 1989. After NAFTA was signed, trade and investment relations between the three countries expanded rapidly, but political co-operation remained weak. NAFTA continued to be controversial, particularly in the United States. In 2017, US president Donald Trump threatened to renegotiate or cancel the deal. More than a year of negotiations produced a revised version of NAFTA called the Canada-United States-Mexico Agreement (CUSMA). CUSMA came into effect on 1 July 2020.

Article

Canada-United States-Mexico Agreement (CUSMA)

The Canada-United States-Mexico Agreement (CUSMA) is a free trade agreement between Canada, the United States and Mexico. It is a revised and renamed version of the North American Free Trade Agreement (NAFTA). The leaders of the three countries signed CUSMA in November 2018 after 13 months of intense negotiations that concluded in September. Canada was the last country to pass enabling legislation, which received royal assent on 13 March 2020. The agreement came into effect on 1 July 2020.

CUSMA is expected to have only a modest impact on economic growth. However, it could have a major impact on the restructuring of the North American economy. It may also limit Canada’s policy options in moving to a new economy based on knowledge, data and intellectual property.

Article

Reciprocity

Reciprocity was a free trade agreement between the United States and Canada. It mutually reduced import duties and protective tariffs on certain goods exchanged between the two countries. It was in effect from 1854 to 1866 and was controversial at times on both sides of the border. It was replaced in 1878 by the Conservative Party’s protectionist National Policy. It involved levying tariffs on imported goods to shield Canadian manufacturers from American competition. A narrower reciprocity agreement was introduced in 1935 and expanded in 1938. However, it was suspended in 1948 after both countries signed the General Agreement on Tariffs and Trade (GATT).

Article

John Turner

John Napier Turner, PC, CC; politician, lawyer, prime minister, athlete (born in Richmond, England, 7 June 1929; died 19 September 2020 in Toronto, ON). John Turner is best known for his early political service as federal justice minister (1968–72) and finance minister (1972–75) in the cabinet of Prime Minister Pierre Trudeau, and for the 1988 election battle with Brian Mulroney over free trade. Turner's 11-week term as prime minister in 1984 is the second shortest in Canadian history, after Sir Charles Tupper (10 weeks).

timeline event

Huawei CFO Arrested in Vancouver

Meng Wanzhou, the chief financial officer of China’s Huawei Technologies and the daughter of its founder, Ren Zhengfei, was arrested at Vancouver International Airport at the request of American law enforcement authorities. Suspected of violating US trade sanctions against Iran, Meng faced extradition to the United States. The Chinese embassy in Ottawa, however, denied Meng had broken any laws and demanded her immediate release. She was released on C$10 million bail on 11 December and confined to one of her two Vancouver homes. Her arrest sparked a diplomatic crisis between China and Canada that saw China detain at least 13 Canadians in retaliation.

Article

Commodities in Canada

In commerce, commodities are interchangeable goods or services. Many natural resources in Canada are viewed as commodities. They are a major source of the country’s wealth. Examples of commodities include a barrel of crude oil, an ounce of gold, or a contract to clear snow during the winter. Commodity products often supply the production of other goods or services. Many are widely traded in futures exchanges (see Commodity Trading).

Article

Hudson’s Bay Point Blanket

The Hudson’s Bay Point Blanket is a wool blanket with a series of stripes and points (markers on cloth) first made for the Hudson’s Bay Company (HBC) in 1779. The most iconic design is that which is white with green, red, yellow and indigo stripes; these colours are now used as an emblem for the HBC. While the HBC was not the first to create the point blanket, the company did popularize it among Indigenous and settler communities in Canada. Today, the design from the blanket is used on a variety of clothing, accessories and household items sold by the HBC.

timeline event

Canada Agrees to Join Trade Accord with US and Mexico

After more than a year of negotiations with the United States and Mexico, Canada reached a last-minute agreement to sign a new NAFTA deal. The United States-Mexico-Canada Agreement (USMCA) will retain the Chapter 19 dispute resolution clause but will also allow greater access to Canada’s dairy market. The USMCA was set to be signed at the end of November 2018 and then sent to the three national legislative bodies for ratification.

Article

Pro Pelle Cutem

Pro pelle cutem (a Latin phrase meaning “a pelt for a skin”) is the traditional motto of the Hudson’s Bay Company (HBC). It was adopted soon after the company received its charter in 1670 and has remained on the HBC coat of arms, apart from a brief period of rebranding between 2002 and 2013.

Article

Indigenous-French Relations

French fishermen, settlers, fur traders, missionaries and colonial agents were among the earliest Europeans to have sustained contact with ​Indigenous peoples in what is now Canada and North America. The relationship between French and Indigenous people of the Eastern Woodlands in the early colonial period was complex and interdependent. France saw Indigenous nations as allies, and relied on them for survival and fur trade wealth. Indigenous people traded for European goods, established military alliances and hostilities, intermarried, sometimes converted to Christianity, and participated politically in the governance of New France. With the transfer of New France to Britain in 1763, diplomatic relations between the French and Indigenous people in Canada ceased. Naturally, social and economic interaction between the European and Indigenous inhabitants of New France continued.

Article

Ounanguissé

Ounanguissé (“Shimmering Light of the Sun,” also spelled Onangizes, Onanguisset and Onanguicé) was wkama (leader) of the Potawatomi ca. 1660s–1701. He was an important figure in the alliance between the French and Indigenous people of the Great Lakes region during the late 17th and early 18th centuries. He is most well known for a speech he gave regarding this alliance during a meeting he had with the governor general of New France, Louis de Buade de Frontenac in 1697. He also made an important contribution to the establishment of the Great Peace of Montreal in 1701.

Article

Claude de Ramezay

Claude de Ramezay, (born 15 June 1659 in La Gesse, France; died 31 July 1724 in Quebec City). Claude de Ramezay came to New France as an officer in the troupes de la marine. He served as governor of Trois-Rivières (1690–99), commander of Canadian troops (1699–1704), governor of Montreal (1704–24), and as acting governor general of New France (1714–16). Throughout his time in New France, he pursued fur trade and lumber interests. He is also remembered for his home, Château Ramezay. Built in 1705, it is now a museum and one of Montreal’s landmark historical buildings.

Article

Trade Goods of the Fur Trade

During the fur trade in Canada, items of European manufacture (historically referred to in the literature as Indian trade goods) were traded with Indigenous peoples for furs. These items include, for example, metal objects, weapons and glass beads. (See also Trade Silver.) In various ways, however, cultural exchanges went both ways. Some Europeans, namely the voyageurs, adopted various Indigenous technologies and clothing during the fur trade, including the use of moccasins, buckskin pants and hats, and snowshoes.

timeline event

Former Finance Minister and Diplomat Michael Wilson Dies at Age 81

A former Progressive Conservative MP for Etobicoke Centre, Wilson served in Parliament for more than ten years. He was finance minister and minister of international trade under Prime Minister Brian Mulroney. Wilson was Canada’s ambassador to the United States from 2006 to 2009 and served as chancellor of the University of Toronto from 2012 to 2018.

Article

Iroquois Wars

The Iroquois Wars, also known as the Beaver Wars and the French and Iroquois Wars, were a series of 17th-century conflicts involving the Haudenosaunee Confederacy (also known as the Iroquois or Five Nations, then including the Mohawk, Oneida, Onondaga, Cayuga and Seneca), numerous other First Nations, and French colonial forces. The origins of the wars lay in the competitive fur trade. In about 1640, the Haudenosaunee began a campaign to increase their territorial holdings and access to animals like beaver and deer. Hostilities continued until 1701, when the Haudenosaunee agreed to a peace treaty with the French. The wars represent the intense struggle for control over resources in the early colonial period and resulted in the permanent dispersal or destruction of several First Nations in the Eastern Woodlands.