As the new NAFTA comes into effect today, here's a look at what it means for Canada cdnpoli
In this Nov. 30, 2018 file photo, President Donald Trump, center, sits between Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Nieto as they sign a new United States-Mexico-Canada Agreement that is replacing the NAFTA trade deal. OTTAWA -- On July 1 the renegotiated North American Free Trade Agreement comes into effect, three years after talks first began to rework the trilateral trade agreement between Canada, the United States, and Mexico.
“With trade between NAFTA members valued at nearly $1.5 trillion in 2018, we can't overstate how vital it is to maintain free and fair trade between our three countries," said Prime Minister Justin Trudeau on June 29.MORE DAIRY, WINE SELECTIONS As for what this could mean for consumers, experts have said it’s unlikely to bring down the cost of Canadian products, but it could result in a larger variety of options on grocery store shelves.
Retailers have voiced concerns that a higher de minimis level will lead to shoppers staying away from bricks-and-mortar stores in favour of increasingly buying products online. Though, the COVID-19 pandemic has led to many small businesses having to re-think their business model and begin offering online shopping. Changes were made to what is called the “rules of origin” for autos.
This could spark increased automotive production across the three countries, and offer new material production opportunities for Canadian auto part manufacturers. However, some auto industry
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