This year, the news has been filled with stories regarding proposed changes to the North American Free Trade Act (NAFTA).
Negotiations between Canada, the United States and Mexico began in mid-August and at present, four rounds of talks have taken place. The fifth round is scheduled for November 17-21, 2017 in Mexico City. It was originally anticipated that negotiations would wrap before the end of this year, however talks are now anticipated to come to a close in March of 2018.
The main industries that would be impacted by NAFTA changes would be textiles, agriculture and automotive. NAFTA came into effect in 1994 and resulted in merchandise trade between the U.S., Canada and Mexico being tripled, reaching $946.1 billion (USD) in 2008.
Do you have questions regarding the potential changes to NAFTA? If so, please feel free to reach out to us. We have experts who are well versed in free trade and are ready to answer your questions.
Buckland is communicating this update with you to ensure that you are well aware of the latest information impacting trade. As a customer-focused company, we provide you with a single source of unmatched Customs Brokerage (Canadian, US, Mexican), Trade Managed Solutions, Freight Forwarding, Trade Technologies and Warehousing/Distribution Services. Please contact your Buckland representative if you have any questions regarding this information.