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The Auto Pact base year refers to the 12-month period from August 1, 1963, to July 31, 1964. This period is significant in the context of the Auto Pact, an agreement between Canada and the United States designed to facilitate the automotive trade between the two countries.
Key Points about the Auto Pact Base Year
- Auto Pact Overview: The Auto Pact, officially known as the Canada-United States Automotive Products Agreement, was signed in 1965. It aimed to increase automotive trade and investment between Canada and the U.S. by removing tariffs and establishing rules for the automotive industry.
- Base Year Significance: The base year of August 1, 1963, to July 31, 1964, was used as a reference period to measure automotive production and trade volumes. This baseline period helped to establish the terms of trade and investment flows under the Auto Pact.
- Impact on Industry: The Auto Pact had a significant impact on the automotive industry in both countries, promoting the growth of manufacturing plants and increasing cross-border trade in automotive products.
- Measurement and Evaluation: The data from the base year was used to assess compliance with the agreement and to evaluate the benefits of the pact for both Canadian and American automotive industries.
The Auto Pact was a crucial element in shaping the automotive trade landscape between Canada and the U.S., and the base year played an important role in setting the benchmarks for this bilateral agreement.
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