Word: canadianization
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Dates: during 1980-1989
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...granting power to the Progressive Conservatives, Canadians rejected the irrational fears of America that the other parties ran on. The election was in large part a referendum on the bilateral free trade agreement that Mulroney reached last year with President Reagan. The other parties charged that Mulroney's pact would sell out Canadian sovereignty...
Although the U.S. Congress had approved the pact, the Canadian parliament had refused to accept it unless Mulroney called an election. The trade agreement quickly became the central issue of the campaign. Mulroney defended it as a strong effort to liberalize trade and spark economic growth, while his opponents--Liberal John Turner and New Democrat Ed Broadbent--argued that it jeopardized Canadian social programs...
Roughly 70 percent of Canadian-American trade is already tariff-free, and the agreement will eliminate the remaining barriers over the next 10 years. The agreement also eases crossborder investment, installs new rules to govern trade for the service industry and gives the United States nondiscriminatory access to Canadian oil, gas and uranium...
...turn, Canada will have greater access to a market 10 times the size of its own. According to economists, the Canadian economy will grow at a rate five percent faster than it would without the agreement, because of increased exports...
...liberalization of trade extends beyond Canada and the U.S. Multilateral negotiations among 96 nations of the General Agreement on Tariffs and Trade (GATT) are scheduled to continue in Montreal next week, and the Canadian approval of the bilateral agreement should have a positive impact on those talks. Several items incorporated into the U.S.-Canada accord, including intellectual property rights and the liberalization of agriculture and service industries, will be on the table in Montreal...