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Period: Jan 1, 1497 to
Canada's Trade History Since 1497
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Jun 24, 1497
John Cabot arrives in Canada
In 1497, John Cabot departed from Bristol to travel by sea and arrived in Canada, mistaking it for Asia. Claiming this land for King Henry VII of England, this event set the path for England's 16th and 17th century rise to power. -
Jun 30, 1508
A detailed map of the "New World" is published for the very first time in Rome.
A map - Terra Nova, Newfoundland - is established which will set the tone for future trade routes and opportunities within Canada. -
Canada's First Trading Post is Established
Pierre de Chauvin and Francois Grave du Pont establish and build Canada's first fortified trading post, in Tadoussac, trading fur and setting the floor for trade within Canada. -
The charter incorporating the Hudson's Bay trading company is signed by King Charles II of England.
The signed Royal Charter gave the Hudson's Bay company an exclusive trading monopoly over the entire Hudson's Bay drainage. This allowed the Hudson's Bay company to exemplify trade in Canada, and grow into the large corporation that it is today. -
Northwest Company
In 1779 the Northwest Company was created. At the time The Hudson's Bay Company had a monopoly on fur trade. This company was created to challenge this monopoly as well as compete with international competition -
Canadian Independence
in 1867 Canada gained it's independence making it a sovereign nation under the British North America Act (BNA). -
Treaty of Washington
The Treaty of Washington created fishing rights between Canada and the U.S. as America wanted to use Newfoundland inshore fisheries. America was allowed this access for 12 years in exchange for free entry for Canada into the American fish market. -
Canadian Pacific Railway is finished being built
On the 7th of November in the year 1885, the Canadian Pacific Railway was finished and as of a direct result, British Columbia was brought into the confederation. The railway connected eastern Canada to B.C, and helped develop the nation. The railway allowed goods and people to be transported from coast to coast, incentivize other territories to become provinces, and allow for more marketing and trade opportunities. -
Canada US Auto Pact (Automotive Products Trad Agreement)
This agreement was signed in order to grow Canada's auto industry. Automotive trades between Canda and the U.S would be duty free if the product was made partially in either country. Due to this Canada went from a 7.1% of auto production in North America in 1965, to 11.2% in 1971. -
NAFTA comes into effect
In 1994 The North American Free Trade Agreement (NAFTA) was created. It created economic growth and helped to raise the standard of living in the three countries. The agreement gradually removed various trade treaties between the member countries over time. Helping too increase trade between the three countries. -
Global recession leads Canada to repair its relations with China
The global recession that began in 2008 incentivized the Stephen Harper led government to reduce their criticism of China, and to repair any relations between the two countries. While the economic effect on Canada was less than optimistic, China's economic status stayed strong and Harper pursued a mutually beneficial relationship between China and Canada. The leaders of the two nations agreed to strengthen relations, leading to china becoming Canada's second-largest importer and exporter. -
Canada and Japan Trade Relations
Canada and Japan's trade relations have been steadily growing over recent years. Foreign direct investment stock from Japan into Canada had a value of $29.6 billion in 2017. In the same year Canada export goods to Japan totaled $11.8 billion while imports from Japan were $17.5 Billion. -
Canada-EU Comprehensive Economic and Trade Agreement (CETA)
In 2017 Canada entered the Comprehensive Economic and Trade Agreement (CETA) with the EU. Through this agreement 98% of tariffs on all traded goods with the partners of this agreement (primarily the UK) will be removed. The UK predicts a $2.15 Billion annual boost to it's economy as result of this agreement -
Canada-United States-Mexico Agreement
This agreement kept key elements of NAFTA while adding new provisions to match the changing times. -
Canada's Industries Today
Canada's Largest Trade Industries are:
Exports:
1 Mineral fuels: US$84.6 billion (20.1%
2 Vehicles: $62.3 billion (14.8%)
3 Machinery (i.e. computers): $32.4 billion (7.7%)
Imports:
1 Vehicles: US$74.3 billion (17.2%)
2 Machinery (i.e. computers): $63.3 billion (14.6%)
3 Electrical machinery: $42.8 billion (9.9%) -
Canada's Trade Today
Canada's largest trade partners of today are:
Exports:
73%/274B U.S.A
4.9%/18.4B China
2.6%/9.7B Japan
2.1%/8.1B Mexico
2.0%/7.47B U.K Imports:
46%/149B U.S.A
15%/50B China
6.7%/22B Mexico
3.8%/12.3B Germany
3.6%/11.7B Japan
