Threats from the U.S. to use tariffs as leverage in ongoing NAFTA renegotiations don’t seem to have soured most Canadian businesses on the prospects of free trade.
More than half (52%) of surveyed Canadian firms believe NAFTA will have a positive impact on business in the next two years, according to HSBC’s Navigator report released March 21.
“Interestingly, over half of respondents believe that NAFTA will help their business in the next two years, which is a larger share than for the same question regarding CETA and CPTPP,” the report stated, referring to Canada and the EU’s Comprehensive Economic and Trade Agreement and the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific.
“It may be that respondents do not currently see a material risk of the existing NAFTA trading framework being disrupted, while they are only gradually learning of the potential opportunities granted by these newer trade deals.”
