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Since 2000, Canada’s position as a leading trading nation has eroded, as measured by our country’s share of global merchandise and services trade. The Business Council of Canada believes that Canada should act now to reverse this worrisome trend by modernizing its trade policy to reflect the ever-evolving and increasingly competitive global business environment. In the article attached, The Honourable John Manley, the Council’s President and CEO, and Brian Kingston, vice president of policy for international and fiscal issues, offer a series of specific recommendations for Canadian trade policy. The article appears as a chapter in the book “Redesigning Canadian Trade Policies for New Global Realities,” published by the Institute for Research on Public Policy.