Economy under the British Regime……. Key vocabulary… Tariffs Preferential Tariffs Protectionism Free Trade Reciprocity Treaty

Definitions Protectionism: An economic policy established by a government to protect the economy of the country or empire from foreign competition. Preferential Tariffs: lower customs duties on products imported from special places.

Definitions Free Trade: a policy where customs duties on products are either reduced or abolished

The idea of Protectionism… What is one way in which Canada protects its economy from foreign competition?

Organization Demand Where is the demand coming from …who buys the stuff ? Or where is the market ? …….Britain Why? Continental blockade by Napoleon Warships

Organization British put preferential tariffs in place….. This means goods are only imported from within Empire ex: lumber is imported from colonies