economy Flashcards
what did the british apply to its north american colonies
protectionism (preferential tariffs)
what did the preferential tariffs mean
england could buy goods from the canadas without import tax
what did the preferential tarifs promote
timber trade
what were the british industries opinion on the products they purchased
they were too expensive
what type of trade was adopted in the 1840s
free trade
what is free trade
trading without tariffs
what does free trade mean
products from any country could be purchased by the british without a tax at the border
what happened to the exports in canada following the free trade
they decreased
who did the canadas turn to for a new trading partner
the USA
which treaty was signed
the reciprocity treaty
in which year was the reciprocity treaty signed
1854
what did the reciprocity treaty do
created free trade between the canadas and the USA
up until which year did free trade between the canadas and USA last
1866
