Apr 22 Sunday 2018 02:17 AM
After a year of tense situation, Canada seems to be now positive about the NAFTA Deal. Since last one year, US has been asking for many changes to be done in the NAFTA Deal. And US has also been threatening to end the deal, if those changes were not made. That had made Canada very negative towards the NAFTA deal. But now, the story seems to be different.
NAFTA is 'North American Free Trade Agreement' that reduces trade restrictions between the US, Canada and Mexico. NAFTA helps these three countries to trade easily with each other. Trade restriction situation happens, when a country charges tax or limits the level of trade done with other countries. Countries put trade restrictions to stop foreign companies from dominating local producers. Foreign products attract lots of people in the country who are willing to buy them. This causes problems for the local producers, when their products are left unsold. Earlier, Trump had called NAFTA the worst trade deal the US has ever signed. Later, he was ready to negotiate. It was because the US hugely depends on other countries for many products. The US buys vegetables, fruits and chocolates from Mexico and oil & natural gas from Canada. If the NAFTA trade deal is ended, it might have become difficult for the US to get these products. And now, after many months, Canada has also shown willingness to continue with the NAFTA deal. A meeting has been scheduled at Peru in coming May.
Trade Agreements are signed for mutual benefit of the signing countries. However, with changing leaders, priorities change. Nevertheless, it has rarely happened that an old beneficial deal is ended. So we hope NAFTA will go on to survive and the idea of cooperation between neighbors also continues to survive.
US & Russia Fight over Airstrikes in Syria
It's Time to Make India a Permanent UN Member
Trump might Rethink about friendship in the Pacific region
Arctic countries demands a Ban on Fuel Oil
"Towards a Common Future" - a call by 53 Commonwealth Nations
Trump threatens China with '$100 bn Tariffs'
Activists blame Singapore growing at the cost of human rights
War Against Terror Goes Online in UK
Mr. Xi gears up for boosting business with the world
Korean University Boycotted over the making of Killer Robots
US-South Korea Annual Military Exercise Takes Off
Railway network in France on a vacation!
April – The Second Chance Month for bad people in the USA
How will bad Social Media behaviour not let you have US Visa?