Growing uncertainty over the future of the North American Free Trade Agreement means companies need to brace themselves, including for the possibility that President Donald Trump walks away from a deal, a trade lawyer is warning the business community.
“The first step is for companies to understand this is very real and that they need to start contingency planning,” said Dan Ujczo, an international trade lawyer specializing in Canada-U.S. matters.
On the campaign trail last year, candidate Trump vowed to rip up NAFTA — the 23-year-old trade agreement between the U.S., Canada and Mexico — if he could not renegotiate a better deal.
His recent reiterations of that threat, along with demands Canada and Mexico consider impossible, have forced everyone to take it more seriously. Click here to read more.