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UPS Files NAFTA Case Against Canada Post

April 25, 2000|Bloomberg News

Atlanta-based United Parcel Service Inc. is seeking $160 million in damages from government-owned Canada Post Corp. for allegedly violating the North American Free Trade Agreement by giving Canadian couriers unfair competitive advantages. Under NAFTA, a tribunal that includes representatives from the company, the Canadian government and an independent international agency will decide the case, a UPS spokeswoman said. Canadian Foreign Affairs spokesman Francois Lasalle said, "We intend to defend the Canadian position that the situation is not in contravention of NAFTA." UPS shares fell 88 cents to close at $62.63 on the New York Stock Exchange.

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