Feb 03, 2017
By Jane Brown
North America could be immersed in major trade negotiations as early as the spring, now that U.S. President Donald Trump has signalled a desire to get going quickly on updating the landmark NAFTA agreement.
“I don’t care if it’s a renovation of NAFTA or a brand new NAFTA, but we do have to make it fair and it’s very unfair to the American worker and very very unfair to companies that do business in this country,” Trump explained.
Some trade experts predict the trilateral agreement signed in 1993 could wind up breaking down into separate bilateral deals between each country.
Canada’s International Trade Minister Francois-Philippe Champagne says while Ottawa’s open to new talks, the North American Free Trade Agreement has been a benefit to the people of both Canada and the U.S.
“When you look at these agreements, they’ve served the middle-class well in both countries, they’ve served well the middle class in the U.S. and in Canada. The multi-lateral trade system that we established after the Second World War works fine,” Champagne offered.
Champagne also dismisses Trump’s assertion NAFTA and other trade deals have been a “disaster” for the U.S.