If you’ve been watching the news this past week, it’s been hard to ignore all of the discussion around NAFTA. The North American Free Trade Agreement came into play in 1994 and has been in the spotlight of late as the U.S., Canada and Mexico have been negotiating a revamp. However, trade experts aren’t very optimistic about an agreement given that the Trump administration recently slapped tariffs on Canada and Mexico.
Large and small companies alike rely on NAFTA for cost-effective trade. It also helps retailers and brands to more easily sell to Canada and Mexico. Ultimately, it increases the global competitiveness of U.S. companies, helping to create jobs that provide more spending money, which ultimately ends up in retailers’ tills. At least this is what prior administrations believed.
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