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New Conference Board Report Tackles Impact of NAFTA Termination

Many people are guessing whether the United States, or more accurately, Donald Trump will terminate the North American Free Trade Agreement (NAFTA) and what impact it will have on the Canadian economy.  The Conference Board of Canada is the latest to weigh in on the discussion, with its recent report predicting a 0.5 percent decline in Canada’s economy and a loss of about 85,000 jobs within a year of termination. 

This relatively modest impact does not include any additional Trump tariffs and non-tariff barriers that attempt to make America great again by segregating the U.S. from important trade partners around the world.  The Conference Board report suggest that real merchandise exports would decrease by 1.8 percent (close to $9 billion) with Canada’s automotive industry taking the biggest hit – about $6 billion in the first year after termination.

Check out the full report.

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