IT’S A TOSS-UP on whether the North America Free Trade Agreement will survive. The fifth round of discussions has concluded in Mexico and Foreign Affairs Minister Christie Freeland is not optimistic.
Failure of NAFTA will have only a slight negative economic impact. If the U.S. terminates NAFTA, as the unpredictable President Trump has threatened to do, trade would revert back to rules of the World Trade Organization. Under those rules, the added tariffs would only add 1.5 per cent of the cost of goods exported to the U.S. according to a study from the Canadian Centre for Policy Alternatives.
David Charbonneau is a retired TRU electronics instructor who hosts a blog at http://www.eyeviewkamloops.wordpress.com.