1.2 History of Canadian Trade

  • Early exploration: The Europeans gave finished goods to North America
  • Trade with Europe
    • CETA: Comprehensive Economic and Trade Agreement.
    • Currently a major trading partner with Canada
  • Trade with America
    • USA: The largest consumer market in the world, and Canada’s largest trading partner.
  • Trade with Asia
    • China: Canada’s largest trading partner in Asia
    • Japan: Canada’s second-largest trading partner in Asia (After China)
    • South Korea: Recently became a more significant trade partner with Canada
    • India: A major center for outsourcing services and manufacturing and one of the world’s fastest-growing economies.
    • India attracts international business due to its lucrative domestic market
  • Trade with Mexico
    • One of Canada’s top 5 trading partners thanks to NAFTA
    • Canada has an increasing trade deficit with Mexico, importing from Mexico far more than exports.
  • Emerging markets: An economy that’s transitioning into a developed economy
  • Canada’s top trading partners:
    • America
    • China
    • Japan
    • Europe
  • Canada’s top trading partners in Asia
    • China
    • Japan
    • Korea
    • India
  • CKFTA: Canada- South Korea Free Trade Agreement
  • NAFTA: North American and Free Trade Agreement
  • NAFTA is a trade agreement between who?
  • %%USMCA: United States, Mexico, Canada%%
  • USMCA Agreement is now what we call NAFTA
  • OPEC: Organization of the Petroleum Exporting Countries