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Exporters Feel Pessimistic on NAFTA Uncertainty, Seeking New Solutions

Posted December 21, 2017

Under Economic Issues, International Trade Issues

(David Hodges – Canadian Press)

Nearly one-quarter of Canadian exporters believe they are negatively affected by looming NAFTA renegotiation uncertainty and are turning to creative solutions to succeed even if the free trade agreement fails, according to a poll by Export Development Canada.

The federal agency supporting export-oriented companies reported that among the 23% of firms surveyed that said they were negatively affected, several are contemplating strategies including moving operations south of the border, diversifying away from the US or delaying investment or hiring.

Canada and the US both expressed their hope in late summer that a new North American Free Trade Agreement agreement could be reached by year-end, but tense and combative discussions have necessitated extending negotiations to a March 2018 deadline. Click here to read more.

Related: NAFTA: Uncertainty to Persist Throughout 2018 (Scotiabank)