The papers collected in this document cover the following topics: the debate over free trade, the Free Trade Agreement for Canada and the United States, the costs of free trade for Canada, why Canadian artists oppose the Agreement, an exploration of the pros and cons of the Agreement, and the history of free trade between the two countries.

Canada, not Japan, has been America's most important export market for the past 50 years, and in 1988 the two countries signed a free trade agreement. This text places that agreement in its historical context, reviews controversies surrounding the agreement, and looks ahead to future prospects.

This document discusses the challenge from Mexico, the North American trade regime, North American trade and investment patterns, and issues and options for the future. It also examines what is involved in a tripartite agreement.

Canada is the largest trading partner of the United States, and the two governments have begun negotiations for a free trade agreement which would tie their relationship even closer. This study analyzes the difficult problems that must be addressed in the negotiations - including quite different perceptions in the two countries of what constitutes fair trade. It suggests several possible ways of reducing differences over subsidies and countervailing duties. It also addresses the exchange rate relationship between the two dollars, and how this affects the trade outlook. An appendix by John Williamson calculated a fundamental equilibrium exhange rate for the Canadian dollar.