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WORLD Finally, Canada wishes to support NAFTA Deal

Finally, Canada wishes to support NAFTA Deal

06 04 2018 Friday
The News

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.

behind the news

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.

beyond the news

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.

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