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In 1497, Giovanni Cabotto,lands on the shores of Newfoundlad, the east coast of North America. Giovanni Cabotto was looking for spices. He believed that he found a new route to the Orient. Cabotto found fish instead of spices. Cabotto mapped the route and returned to England. He left to Newfoundland again with 4 ships and he was never heard from again.
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After Cabotos' disapperance, his son tired to follow the same route for the Orient that his father travelled. Sebastien landed in Newfoundland and was dissappointed that there were no spices. Sebastien went back to England, as Canada had nothing to offer other than fish.
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In the 1500's to the early 1600's many fishing boats from Europe sailed to Canada to fish for cod.Europeans thought of this as a great business venture and sailed off towards Canada to fish for cod. The cod had a large market in Europe and many Europeans looked to profit off of it.
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The first European to establish a settlement in Canada was Samuel de Champlain. He sailed from France to colonize Acadia and Quebec. The French realized how much money could be made from the fur trade.
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Two French explorers were not allowed to set up their company in Quebec. They were negotiating with the Aboriginals for fur.
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Hundreds of aboriginals came to trade fur in Charles Fort . The success of this trading post paid back the investors of des Groseilliers and Radisson and they were really impressed. The two explorers, now traders, applied to the King for a Royal Charter.
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The Governor and Company of Adventurers of England Trading into Hudson's Bay is formed.
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In the 1700's, there was a huge difference between American and Canadian trade, Canadian trade foccussed on European connections, including France and England. On the other hand, American trade branched out to South America.
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Markets for goods in American and Canada changed and the American Revolutions really helped America. Before the revolution, America was just gathering raw materials ,but after that they started processing these raw materials into more profit for the country. Canada's trade was dominated because Canada sent its raw materials to England to be processed and manufactered.
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Group of merchants come together of form the North West Company. Canadian owned company and began to form a fierce cometition for the British owned Hudson's Bay Company.
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Relationships between Canada and the United States were affected due to the war of 1812. The war was mostly fought near Canadian borders, despite being between the British Empire and the Americans. Canadian businesses started to look for trade in the US, instead of England,
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Law is passed in the US causing fur trade with Canada to be illegal. This was due to the competition between the North West company and the American Fur Company.This event is considered to be the first time th US imposed a protectionist law.
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The North West Company and the Hudson's Bay Company decided to merge under the name Hudson's Bay Company, due to the effect of the protectionist law. This enabled the company to expand across northern america.
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Beaver fur is replaced by fur for material used for hats in Europe. People believed the fur trade in Canada would never be the same or as dominant.
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Canada, in 1867, became its own nation partly as a response to having its own resources and by itself, Canada would be able to develop many international trade oppurtunities.
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Due to this new railway, Canada could start developing export markets individdually, and give opportunities to be able to ship products across the country.
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Early 1950's, after the second world war, Japan tries to rebuild itself by entering the market. with inexpensive toys, novelties and electronic equipment. hroughout the 20th century, many electronics such as cameras, video games, appliances, even automobilies made in Japan gained respect and reputation on the international level. apan now is a major trading partner with Canada.
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Canada, the United States and Mexico signed the North American Free Trade Agreement (NAFTA). A treaty for free trade between the three of them. This would eliminate all tariff barriers between them and they could import and export materials without being charged extra tax on top of the price of goods.
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A trade agreement currently under negotiation that would expand the North American Free Trade Agreement (NAFTA) to include 31 additional nations in the Western Hemisphere.
