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Canada-United States Automotive Agreement (Auto Pact) 1965

On 8. April 2021, in Allgemein, by Norman

The Liberal government of Lester B. Pearson, in an attempt to increase exports to the United States, negotiated and signed Canada-U.S. Agreement on automotive products (known as the Automotive Pact) in 1965. It has created a North American single market for vehicles and parts. This agreement allowed producers to rationalize their production for a market and reduce consumer prices. Canada was able to increase its share in the U.S.-Canada-U.S. The automotive industry at about 10 per cent, twice as much as before 1965. Products had to have 50 per cent Canada/U.S. content to qualify. The agreement applied to original cars, trucks, buses and auto parts, excluding auto parts, batteries, tires and used cars.

With the signing of the agreement in 1965, tariffs between the two countries were abolished. In return, the three major automakers (General Motors, Ford and Chrysler) and, later, Volvo, agreed that auto production in Canada would not fall below the 1964 level and that they would provide the same sales ratio in Canada. [6] [7] APTA`s two stated objectives were to reduce production costs in Canada through more efficient production of a narrower range of vehicles and components and to reduce vehicle prices for consumers. In 1970, the U.S. Senate Finance Committee asked the president to achieve „total commercial freedom“ in the sector by 1973. In 1971, six years after the auto pact came into force, the United States took drastic measures to deal with its own balance-of-payments crisis, and President Richard Nixon`s administration came into the fold to denounce the agreement. He was saved only by a quick action by a U.S. official who saw a draft document to repeal the auto pact. Despite these differences, car trade between the two countries has soared.

In 1966, Canadian exports of vehicles and spare parts to the United States totaled $886 million. In 1977, exports were $9.9 billion. Similarly, Canadian imports from the United States increased from $1.5 billion in 1966 to $10.9 billion in 1977. The U.S. trade surplus, which moved from a surplus to a deficit during the auto pact, increased from $601 million in 1966 to $1.1 billion in 1977, although Canada had surpluses in some interim years. The United States continued to fear Canadian security measures in the agreement. In July 1975, the Senate Finance Committee asked the U.S. International Trade Commission (ITC) to verify that Canada had „fully respected the spirit and spirit of the agreement by phasing out the so-called transitional provisions.“ The ITC concluded that Canada had not banned it.

 

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