Sunday, February 28, 2021

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How USA Manages International Relations with Canada

The United States and Canada represent one of the strongest international relationships with each other.They also own one of the longest international borders in the whole world. U.S and Canada also have the world’s largest and wide trade relationships which eventually help them to supports millions of jobs in each country. Canada is known of to the single largest supplier of energy and power to the United States. After Arab and Venezuela, Canada has the third-largest reserves of oil. Canada also provides Uranium to U.S for its nuclear power plant operations.

Both the countries share strong and high volume of bilateral trade. The same is reflected in the day to day operations of both the countries. As per the latest estimate, US and Canada trade is almost $1.5 billion a day in goods and services. Approximately, 350,000 people cross between the countries every day by all modes of transport. The two countries work closely in all the fields ranging from security, law enforcement, and environmental protection to free trade etc.

Trade barriers between America, Canada and Mexico have been reduced due to the presence of  “The North American Free Trade Agreement “.The presence of agreement has helped in resolving long-standing bilateral irritants and liberalized rules in several areas: including agriculture, services, energy, financial services, investment, and government procurement.

Canada and the United States also share one of the world’s strongest investment relationships as well. The Unites States is Canada’s largest foreign investor particularly in the fields of mining and smelting industries, petroleum, chemicals, machinery manufacturing, Finance, and transportation equipment. Canada in known to be the third largest investor in the United States particularly in the field of finance and insurance, manufacturing, banking, information and retail trade, and other services. Any bilateral trade disputes arising among the two countries are resolved through bilateral consultative forums or referral to NAFTA or World Trade Organization (WTO) dispute resolution procedures.

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