O Canada! WTO Praises Country's Trade Policies

ByJohn S. McClenahen Canada, which sends a stunning 86% of its merchandise exports south to the U.S., possesses some of the most liberal and easily understood trade and investment policies in the world, says a generally approving report from the World Trade Organization (WTO) in Geneva. The WTO asserts that "sound economic policies" have given Canada its ninth consecutive year of economic growth, an improved federal budget balance, lower unemployment, and higher inflation-adjusted after-tax incomes. And the WTO praises Canada for improved foreign access to its telecommunications and financial markets. However, the WTO takes Canada to task for import restrictions on textiles and apparel, quotas on dairy products and poultry, and local-content requirements in autos, publishing, and entertainment.