NAFTA -we should Know right now to trade usdcadRecently NAFTA in talks for the problematic situations of Canada,who faced to prepare for worst in the case U.S. President Donald Trump decides to pull his country from the North American Free Trade Agreement (NAFTA) said Canadian NAFTA adviser.
This statement worsen Canadian Dollar We will See further some points about NAFTA here
What Is NAFTA
The Canada-U.S. Free Trade Agreement
Negotiations toward a free trade agreement between the United States and Canada began in 1985. Sixteen months later, the two nations came together and agreed to the Canada-U.S. Free Trade Agreement (FTA). It was a historic agreement that placed Canada and the United States at the forefront of trade liberalization.
Key elements of the Agreement included the elimination of tariffs and the reduction of many non-tariff barriers to trade. The FTA was also among the first trade agreements to address trade in services. It also included a dispute settlement mechanism for the fair and expeditious resolution of trade disagreements, and established a ground-breaking system for the bi national review of trade remedy determinations, thereby providing an alternative to domestic judicial review.
In practical terms, Canada and the United States agreed to remove bilateral border measures on traded goods, which included the removal of tariffs on goods such as meat products, fruits and vegetables, beverages, processed foods, live animals, wine, clothing and textiles, fuels, electrical goods and machinery.Source(2)
For more than two years, US President Trump criticised the agreement and also hinted to take some serious steps being in the administration or at least send some ultimatums.