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The Emerson definition of a friend: "A friend is one with whom I may be sincere." The speaker's responsibility in enterprises which have invested a great many millions of dollars in Canada. The basic policy in all of the Canadian operations that "we be good Canadian citizens." The belief that the future of the world is to a very major degree dependent upon what happens in North America; and that what happens in North America really means what happens to relationships between Canada and the United States. What the speaker means by "Let's Be Friends." The important fact that in both our countries the ideal is freedom--freedom and liberty for the individual and for enterprise--and that our whole governmental systems are designed to assure that these are forever protected. A pre-requisite of an understanding of another country: full understanding of one's own, particularly the business system and how it operates and why. The Canadian Manufacturers Association and the Canadian Chamber of Commerce and the Board of Trade doing excellent work in this regard, but more to be done in the way of more complete figures or statistics and business fact finding. International trade. What the United States is going to do in that field. Hazarding a guess of the U.S. moving towards so-called "free trade." What is meant by "free trade." Canada's "Customs Tariff." The issue of quotas. Misapprehension or misinformation regarding the whole trading picture, including trade between Canada and the United States. Examples and illustrations. Labour rates. Report of the Commission on Foreign Economic Policy, or the Randall Commission. Discussion in the U.S. concerning free trade. Evidence of a growing understanding of the position of the United States, and a willingness to speak up about it.