Canadian Trade Timeline

THE EUROPEAN CONNECTION

1497

1500s

- Many fishing boats from Europe sailed to Canada to fish for cod

- After both the Cabots had found an abundance in fish in Canada, many other 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 so many Europeans looked to profit off of it

1668

- John Cabot landed on the shores of Newfoundland

- Despite he was looking for spices (as his father was a spice merchant) he found fish

Canadian Trade Timeline

- On June 3rd, Radisson and des Groseilliers set sail for Canada – this time with a fur trading license in hand

- Radisson's ship was damaged in a storm on the way over and was made to return to England but des Groseilliers’ ship arrived safely at James Bay

- A party was then made at Charles Fort

1660

- Two French explorers by the name of Pierre-Esprit Radisson and Medard Chouart, Sieur des Groseilliers were prevented from setting up their own company in Quebec

- The French Governor of Quebec did not issue the traders a license and then proceeded to fine them for trading

- By convincing King Charles II, they were given their license

1812

THE AMERICAN CONNECTION

- The war of 1812 put a strain on relationships between Canada and the United States

- Although it was a fight between the British Empire and the Americans, the war was mostly fought by Canadians and the Americans on the Ontario and Quebec borders

- Despite these political problems, businesses in Canada were beginning to look south towards the United States for trade instead of east towards England

1816

- American government passes a law making it illegal for Canadians to trade furs in the United States

- One of the first protectionist efforts of the United States and it effectively two major Canadian fur trading companies to join forces

1720

- Outlook of trade in the America's changes

- Canadian trade focused on European connections, such as France and England whereas American trade branched out more with more sophisticated trading partners stretching into South America

1669-1670

1775-1783

- Hundreds of Native Indians came to trade at Charles Fort. Success paid back to the two explorers and they then applied to the King for a Royal Charter

- On May 2nd the Royal Charter is granted and a new trading company is formed

- The Governor and Company of Adventurers of England Trading into Hudson's Bay is formed

- James Watt invented the steam engine that provided cheap power to run machines

- Trade and goods and services market expanded exponentially

- Before America was just gathering raw materials (ex. cotton) but after the revolution the United States started processing these raw materials into more profit for the country

- Examples: cotton yarn, fabric and manufactured cotton clothing

Early 1600s

1783

- Samuel de Champlain became the first European to establish the first settlement in Canada.

- Was sent out from France to colonize Acadia and then Quebec. The French King, aristocrats, and other merchants realized how much money could be made from the fur trade

- United States was irritated by failure of the British to withdraw from American territory

- This prevented American ships from trading in Europe and allowed the kidnapping of American sailors to serve on British ships

1779

- Group of 16 merchants formed a consortium called the North West Company

- Provided fierce competition for the Hudson’s Bay Company which became a monopoly since the defeat of the French in Quebec in 1759

1821

- Due to the protectionist law by Americans the North West Company and Hudson's Bay Company merged

- Because of the law that that made it illegal for Canada to trade fur with America, this competition was hurting both the North West Company and the Hudson's Bay Company because the American market was unavailable to both

1840

1867

- Silk replaces Beaver fur as the material of choice for hats in Europe

- With Beavers becoming more scarce, a backup material was needed for the market in Europe. Thus silk was found and was quickly replacing beaver fur

- This trend had an enormous impact on beaver fur markets in Europe and because over-trapping had depleted the beaver population so less beavers were found and less beaver fur hats were made

- Canada becomes its own nation, separating away from Britain and building its own market

- As a response to having its own resources and by itself, Canada would be able to develop many international trade opportunities

1885

- Canadian Pacific Railway built, a track than runs from the East Coast to the West Coast

- Canada could develop international export markets, encourage other territories to become provinces of Canada, and gave the opportunity to ship goods and people from coast to coast

THE PACIFIC RIM CONNECTION

TRADE WITH ASIA

Africa

- Africa accounts for only one-half of 1 percent of Canadian exports and 3 percent of imports

- South Africa is an industrialized nation with a stable government and major non-oil trade with Canada

-$845 million Canadian imports from South Africa in 2008

- $944 million Canadian exports to South Africa in 2008

THE END

The Middle East

India

- Lack of major highways, telecommunication, services, etc make growth difficult for business in India

- High taxes and widespread corruption are also problems for companies that wish to grew business in India

- Although Indian multinational companies such as Tata Group have expanded into every major international market

- Firms are becoming more aggressive and India's government has begun to focus on trade

- $1.5 billion Canadian exports from India in 2008

- $2.4 billion Canadian exports to India in 2008

- Over $1.4 billion worth of Canadian exports reached Dubai in 2008

-Israel and Canada signed a free trade agreement and Israel business shipped over $1.2 billion worth of medicine, diamonds, shoes, etc to Canada in 2008

- Egypt imported over $633 million in newsprint, lumber, wheat and other Canadian goods to help build manufacturing in 2008

2008

1993 - 2008

- Canada, the United States and Mexico signed the North American Free Trade Agreement (NAFTA)

- 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 by the year 2008

TRADE WITH EMERGING MARKETS

MEXICO AND AMERICA

1950's

- Japan entered the North American market with inexpensive toys,

novelties, and electronic equipment.

- Japan managed to become some of the most popular brands in the world

- Japan has led the other Pacific countries into international trade and is now a major trading partner with Canada.

1945

- Japans industries were pretty well destroyed but with North American aid, factories were rebuilt to high standards, providing modern manufacturing facilities.