In the United States, trade negotiations are only one side of a broader economic agenda. In 1975, the United States began to feel the first signs of dramatic changes in the world economy after the war. Richard Nixon found himself facing the first dramatic slide, the devaluation of the dollar and the exit of the gold standard by abandoning the Bretton Woods post-war framework, created in 1944. President Ronald Reagan launched an inexorable trend toward “managed trade” that governed key sectors such as textiles, automotive and semiconductors, where the most important economic relations were determined by the two largest economies, the United States and Japan. The two countries were mirrors, growing surpluses and deficits, a creditor and debtor status, where their common policy influenced the world economy in areas such as exchange rates, capital flows and third world debts. Serious imbalances, partly influenced by OPEC, necessitated new political coordination and led to annual meetings between heads of state and government, the G4, the G5 and, later, the G7, including Canada. In the same way that the Reagan administration faced stiff Japanese industrial competition in traditional manufacturing (. B for example, cars, cameras, motorcycles, radio and television) and new sectors such as consumer electronics and industrial machinery, robots, large American companies saw a free trade agreement with Canada as a secondary problem as a trade pact with Japan and Europe. After its full implementation, the CPTPP will form a trading bloc representing 495 million consumers, and 99% of tariff lines will be tariff-free between the parties. Canada`s main exports to CPTP member states include natural resources and agricultural products. In September 2019, World Affairs Canada listed 31 free trade agreements at various stages of the negotiation. Twenty of them are with individual countries, while the other 11 are groups of countries. Some countries are part of more than one free trade agreement with Canada.
On 5 November 1984, the new Conservative government reminded Parliament, in accordance with its campaign commitments, of an omnibus declaration of legislative intent, like a State of the Union address, and announced important new initiatives, including policies on competitiveness and trade liberalization.