North American Free Trade Agreement, NAFTA
The president Trump is mainly concerned about the potential loss of American jobs because of unbalanced global trade, Black said.
“In tearing up NAFTA and so forth, Donald Trump has never expressed any problem at all with Canada-U.S. free trade,” Black said in video testimony from Toronto. “He isn’t a protectionist, he is actually in favor in trade. What he doesn’t like is trade that consists of a sizeable net exportation of unemployment to the United States.”
Last month, Trump attacked Canada’s dairy industry and the U.S. imposed tariffs on softwood lumber. Trudeau has said he welcomes a renewal of NAFTA.
Canada should take Trump’s proposal to slash U.S. corporate tax rates more seriously, because it would make companies north of the border less competitive, Black said. “The implications of that to Canada are clearly serious in terms of where international investor money is apt to go to get into this North American market.”
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