Canada Looks to Other Trade Regions Amid NAFTA Renegotiations
From: IBISWorld Canadian business uncertainty is high following the recent US election due to the Trump administration’s goal to renegotiate the North American Free Trade Agreement (NAFTA). The Canadian economy has relied on US markets for decades with exports to the United States consistently comprising more than 70.0% of Canada’s total over the past 10 years. Amid potential NAFTA renegotiations, Canada has pursued closer trade relationships with other regions including Europe and Asia, which will present both opportunities and challenges for the country.