Question

What is the Regional Trade Agreement that is most important to Canada. Include one thing that...

What is the Regional Trade Agreement that is most important to Canada. Include one thing that has happened since January 1, 2020 that may affect this Agreement.

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Answer #1

Ans. NAFTA - North American Free Trade Agreement is the most important trade agreement to Canada. This agreement is able to promote trade between 3 countries USA , Mexico and Canada to lift most of the barriers related to trade and tarriffs.

One thing which happened since Jan 1 , 2020 is that on Jan 29, 2020, i which officially ammended NAFTA , but failed to amend the CUSFTA (Canada - United States free trade agreement) of 1989 and if any of the countries ( USA or Canada) fails to renew or extend it within 6 years , then FTA will be the new law.

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