The Conference Board of Canada is predicting a 0.5 per cent decline in the country's economy resulting in the loss of about 85,000 jobs within a year if the North American Free Trade Agreement is terminated.
As talks to renegotiate the trade deal enter an expected eighth round in the coming weeks, the think tank says in a new report that would be the best-case scenario in a post-NAFTA world.
While the board says its analysis suggests a modest impact on the Canadian economy, it adds several possible reactions are not considered such as further U.S. trade actions including non-tariff barriers and a stronger reaction from businesses. Click here to read more.
Related: Conference Board of Canada Report