The Canadian economy is “a new northern tiger” according to John Manley, federal Minister of Finance. He made the remark during a speech delivered today to the Atlanta Rotary Club.

The continued resurgence of the Canadian economy has surpassed all expectations, he said. “The new northern dynamism is good for Canada, but it is equally good for the U.S. We are, after all, two halves of the largest and most powerful trading relationship in the world, now running at some US$ 1.3 billion in cross-border trade every day.”

Since the introduction of NAFTA in 1994, trade between the countries has grown by 50%, said Manley, and cross-border investment has linked the
economies even more tightly.

Manley criticized the protectionist measures sought by certain lobbies in the U.S., notably in the form of agricultural subsidies, restrictive trade in softwood lumber and, now potential action in wheat as well. “The softwood and wheat postures are particularly disappointing when we know that Canadian
trade practices have been vindicated repeatedly by WTO and NAFTA panels.”

“Whether in quest of our security, our prosperity or our freedom, the destinies of Canada and the United States are inescapably linked. This is not only a chance of geography, but a choice, as well — our only choice,” Manley said.