Worried about U.S. scrapping NAFTA? A Calgary think tank has a just-in-case guide for businesses

February 1, 2018

The possibility of the North American Free Trade Agreement collapsing is on the horizon, so a Calgary-based think tank has launched a guide to help small businesses in Western Canada prepare with what it calls "The 'Just in Case' Plan.'"

The guide — released Thursday by the Canada West Foundation — helps businesses prepare for four scenarios that could unfold should the U.S. choose to withdraw from NAFTA:

The U.S. issues a withdrawal notice, likely as a negotiating ploy, but the withdrawal is stopped by legal action and ultimately the U.S. remains.
The Canada-U.S. Free Trade agreement (FTA) is resurrected.
The U.S. withdraws, and World Trade Organization (WTO) tariff rates and rules automatically apply.
The U.S. withdraws, and President Donald Trump uses emergency powers to impose higher than WTO rates on Canada.

This was excerpted from the 1 February 2018 edition of CBC News.

Topic(s)

Trade Agreements

Information source

Canadian News Channel

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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