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The American Revolution put a strain on the relationship between Canada and the United Sates. However, Canadian businesses were looking south to the States for a trading partner, instead of east towards Britain.
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The North West Company was a Canadian owned trading company in 1779 that was competition for the American companies. The competition caused the United States to pass a law 37 years later making it illegal for Canadians to trade furs in the States.
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By 1980, Canada and the United States were each other's largest trading partners, and the Canada-US bilateral trading relationship was the world's largest.
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Canada proposes and free trade agreement with the United States in hopes of removing tariffs and reducing non-tariff barriers.
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Canada and the United States agreed to remove bilaterial border measures on traded goods, which included the removal of tariffs on goods such as meat products, live animales, wine, clothing and textiles, and most agricultural products. This agreement was the first trade agreement to address trade services.
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Canada joins the Organization of American Sates, which means Canada is represented by the Permanent Mission. The role of the Permanent Mission is to advance Canadian objectives and interests through the OAS and to work with hemisheric partners through the organization.
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NAFTA was a trilaterial agreement between all three of the North American countries,Canada, the United States, and Mexico. The agreement liberalized rules in areas including agricultiure, services, energy, financial services, investments, and government procurement.
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Canada exports two-thirds of their porducts to the States; one-half of Canada's imports come from the States. The United States export one-fifth pf their porducts to Canada; one-seventh of the States inports come from Canada.
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At the end of 2010, the stock value of the United Sates foreign direct investment in Canada was more than $306 billion and the Canadian investment stock in the States wqas $206 billion.
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The council will further stimulate trade by increasing regulatory transparency and cooperation between Canada and the United States. It is help eliminate innecessary regulatory differences and actions that hinder cross-border trade.
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Canada and the United States, to this day, still have the world's largest investment relationship and contiue to trade.
