CRS Reports on U.S.-Canada Trade and Economic Relationship
The Congressional Research Service has issued a report (RL33087) entitled, "U.S.-Canada Trade and Economic Relationship: Prospects and Challenges.”
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
According to the report, the U.S. and Canadian economies are highly integrated and while most U.S.-Canada trade is conducted smoothly, several disputes remain contentious, including those involving the 2006 softwood lumber agreement, U.S. country-of-origin-labeling requirements, the U.S. placement of Canada on its Special 301 priority watch list over intellectual property rights (IPR) enforcement issues, and the “Buy American” provisions of the U.S. economic stimulus package.
The CRS also notes that as a result of the 2001 terrorist attacks, several bilateral initiatives (e.g., the Security and Prosperity Partnership of North America, Free and Secure Trade (FAST) program, etc.) have been undertaken to minimize disruption to commerce from added border security and, in some quarters, interest has been renewed in greater economic integration, either through incremental measures such as greater regulatory cooperation or potentially larger goals such as a customs or monetary union.