China has been included in the Canadian General Preferential Tariff (GPT) treatment since its inception in 1974. GPT was put in place to allow Canadian importers access to products from developing countries at a reduced duty rate to help stimulate the developing country’s economy. Wow!! I would say it worked for China.
A little history lesson. Back in 1974 we were entertained by best picture Oscar winner The Sting. “The Way We Were” was the number one song on the top 100. “The Streak” was number eight. The what? Don’t ask. The best-selling North American car was the Ford Pinto leading the way with explosive sales. China’s Gross Domestic Product (GDP) was about 45 billion.
