School of Policy Studies

School of Policy Studies
School of Policy Studies

Half of Canadian executives say old NAFTA better for our economy than USMCA

February 22, 2019
This article appeared in the Financial Post with comments by Robert Wolfe, Professor  Emeritus in the School of Policy Studies, Queen’s University

A range of factors, including exchange rate fluctuations, fiscal policy changes, shifting consumer preferences and offshore competition make measuring the economic value of a trade deal “a very hard thing to do,” said Robert Wolfe, professor emeritus at Queen’s University’s School of Policy Studies in Kingston, Ont.

The maturity of both the U.S. market and the U.S.-Canada free-trade relationship also means any impact from a revamped deal is bound to be “incremental,” he added.

“When business looks at USMCA versus NAFTA, the real thing to consider is USMCA versus nothing,” Wolfe said. “Nothing would have real impacts on productivity and efficiency, because anything that disrupts North American supply chains can’t be good.”

Read the full article in The Financial Post