Lack of innovation by traditional industries, such as forest products, combined with high labour costs have reduced the industrial base of Thunder Bay by close to 60%. The grain trade has declined because of the loss of grain transportation subsidies and the loss of European markets. The gradual transition from shipping by train and boat to shipping by truck, and the Canada–United States Free Trade Agreement have ended Thunder Bay's privileged position as a linchpin in Canadian east–west freight-handling trade. As a result, the city has lost its traditional as a break-bulk point. However, in recent years shipments through the port of Thunder Bay have stabilized, and remains an important part of the Saint Lawrence Seaway.