Canadian truckers are bearing the brunt of increased U.S.-Canada border security put in place after the 9/11 terrorists attacks, according to a new report released by Transport Canada.
The post 9/11 financial impact on the Canadian transportation sector is between $312 and $544 million, and the trucking industry has absorbed 80 percent of that cost, according to the study.
“No equivalent magnitude of delay-impacts were observed for any other modes [of transport],” the report concludes, according to the Canadian daily The Globe and Mail.
Trackers are just part of a Canadian – and American – workforce that has seen profits dwindle as a result of increased border fees and tighter security, which has slowed cross border traffic.
Canadian securities regulators have agreed to meet with the U.S. Securities and Exchange Commission to reach mutual recognition, The Canadian Press reports.
Four provincial securities regulators – Quebec, Alberta, British Columbia and Ontario – want closer integration with the U.S. S.E.C., which would grant Canadian banks and investment dealers greater business freedom in the United States.
The talks come after the S.E.C. recently turned down offers to talk with Canadian officials because of the complications involved in dealing with 13 provincial Canadian regulators.
"It's an indication we can have links with the securities commission in the U.S., just as we can in Europe," Quebec Finance Minister Monique Jérôme-Forget, told the Canadian daily The Globe and Mail.