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The Reciprocity Treaty

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The Reciprocity Treaty
As industrialization in Canada grew substantially, businesses found immense sums of profit through trade of merchandise with countries such as Britain and the US. Though there was an issue with this business of commerce. Britain and the US charged tariffs or additional fees for the foreign exporter. These taxes were used to restrict trade, as they increased the price of imported goods and services, making them more costly to consumers.
The Reciprocity Treaty, a pact between the British North American colonies and the US, had a sole purpose of mutually diminishing import duties and protective tariffs charged on manufactured goods exchanged between the countries. Initiating in 1854, the treaty ended the American 21% tariff on natural resource
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