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Article: Unhappy birthday for a free-trade pact. (United States-Canada agreement)
- Article from:
- U.S. News & World Report
- Article date:
- February 5, 1990
- Author:
CopyrightCOPYRIGHT 1990 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Unhappy birthday for a free-trade pact As Washington and Ottawa mark the first anniversary of the U.S.-Canada Free Trade Agreement (FTA), the mood north of the border is anything but celebratory. Unemployment has risen steadily, reaching 7.7 percent by the end of 1989. Reports of plant closings and layoffs punctuate the news; organized labor blames free trade for the loss of some 72,000 jobs. Polls show that a majority of Canadians have soured on the deal, and the opposition Liberal Party vows to kill the pact if returned to power.
But divorce would be expensive. Sagging economies on both sides of the border have diverted attention from an investment binge that ...