-
United States of America was Established
The United States was established long before Canada but these two countries would eventually have a great history with each other. -
Canada was Established
Confederation of Canada:
Canada starts to grow as a country and provide resources they can trade to other countries such as the USA -
Free Trade Agreement was Signed between Canada and USA
Eliminated tariffs, the reduction of many non-tariff barriers and it was among the first trade agreements to address trade in services. -
National Free Trade Agreement Formed
Signed by Prime Minister Brian Mulroney, Mexican President Carlos Salinas, and U.S. President George H.W. Bush. NAFTA embraces more than 450 million people of the three North American Countries: Canada, United States, and Mexico. It was expanded upon the FTA commitments to move people toward reducing trade barriers and establishing agreed upon trade rules. -
Terrorists Attack the World Trade Center
After the attack on the World Trade Center in 2001, there was a significant decrease in trade toward the end of 2001 and during 2002. Security at the US/Canada border became strict limiting exports to Canada. -
Total Trade Exceeded $560 billion
The USA and Canada share the world's largest and most comprehensive trading relationship which supports millions of jobs in each country. In 2007, total trade between the two countries exceeded $560 billion. -
Currencies Were Roughly Equal
The US Dollar has always been very strong against Canada's counterpart giving US businesses added buying power in the Canadian market. In 2007, it was reversed when the Canadian Dollar reached parity with the US dollar, making the US an attractive shoping destination for Canadian buyers. At the end of September, 2010, however, the two currencies were almost equal. -
Trade with USA Totaled Over $681 Billion
In 2011, trades of goods and services with the US totaled over $681 billion:
$337 billion exports
$334 billion imports
