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Trade Barriers Between Canada And France

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Trade barriers between Canada and France
France imposes tariffs and to protect their own local businesses and safety of its own citizens. France, being a member of the European Union, imposes a ‘’Common External Tariff (CET)’’ on goods that enter the country from countires not in the EU. The rate of common external tariff is around 40%. It also imposed the “Conformity to European standards (CE)”, which specifies what kind of products that must have the CE sign of approval attached to the product. Moreover, France have high standards of quality inspections. This is a form of protectionism since this would delay the foreign products from reaching the frech market and local products can be introuced to the market first.

What currency is used in local transactions in France? …show more content…

Euros is the official currency of the eurozone and is used by the Institions of European Union. Euro is one of the most valued and widely used currency of the world. It is the second largest reserve currency as well as the second most traded currency in the world. GDP/Economic Growth of countries in the Eurozone and inflation will affect the value of Euro the most. In general, if the GDP of European countries are high in recent years, Euro will remain stable. It is considered a Hard currency, which is trusted and reliable. On October 7th 2014 , exchange rate of Euro to canadian dollars is 1:1.41. This is advantageous for France to import products from Canada, since high Euros favours France a higher purchasing power. However, it is not beneficial to Canadian businesses exporting products to

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