Revising NAFTA for the 21st century

Political issues aside, the economic benefits to Canada and the U.S. are significant
By Stephen Cryne
|Canadian HR Reporter|Last Updated: 12/12/2016
Credit: Lightspring (Shutterstock)

During the 2008 presidential campaign, President Barack Obama had this to say about the North American Free Trade Agreement (NAFTA): “NAFTA’s shortcomings were evident when signed and we must now amend the agreement to fix them.” During Obama’s term in office, there have been some modest improvements, under the Beyond the Border Action Plan, to improve the flow of goods and people between Canada and the United States.

Fast-forward to the 2016 presidential campaign and presidential candidate Donald Trump had this to say about NAFTA: “We lose with Canada — big-league. Tremendous, tremendous trade deficits with Canada. This is the worst agreement ever signed.” 

So, what can be expected going forward? Let’s look at the huge importance of trade between Canada and the U.S.