Could Canada be the one to end NAFTA?

in #busy6 years ago

We've now learnt that Prime Minister Trudeau of Canada decided to walk away from the NAFTA talks when the USA tried to force a five-year sundown clause into the treaty (which would mean it would have to be negotiated all over again in five years time).

Some in Canada are urging Traudeau not to bother waiting for an American response and trigger an exit from NAFTA themselves:

https://www.theglobeandmail.com/opinion/article-nafta-is-dead-and-canada-should-move-on/

Because Canada has it's own currency, the currency can take the strain when they go to WTO rules instead. It is worth noting that the WTO didn't exist when Canada first negotiated NAFTA.

There are some benefits too - NAFTA currently requires Canada to sell it's oil to the USA first at the WTI price which tends to be at least $5 lower than the Brent crude price. Canada could make more money shipping their oil to their Pacific coast and onwards to China selling at the Brent price.

If Canada pulls the trigger they could be out of NAFTA quicker than the UK is out of the EU. Expect a cosy trade deal between Canada and the UK to follow (both countries have Queen Elizabeth II as head of sttate).

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The Canadians can achieve independence from the US if the citizens co-operate - start to buy Canadian made stuff etc.

The Canadians can achieve independence from the US if the citizens co-operate - start to buy Canadian made stuff etc.

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