Canada could lose 100K jobs with U.S. losing 200K if CUSMA dies: report
In July, the U.S. said it won’t renew the deal, known as CUSMA, in its current form. The clock is ticking for both sides to negotiate a new deal ahead of a fresh round of tariffs.
A new industry report warns that the breakdown of the Canada-U.S.-Mexico free trade agreement, known as CUSMA, could result in over 100,000 job losses in Canada and more than 200,000 in the United States. The trade deal, also called USMCA in the U.S., is set to be reviewed annually, adding economic uncertainty. Meanwhile, the U.S. has threatened to impose 50% tariffs on Canadian goods, which will begin on August 19.
The Canadian American Business Council reports that successful renegotiation of USMCA could add 137,000 American jobs and 98,000 Canadian jobs by 2027, compared to the status quo. However, a breakdown of the deal would lead to 214,000 fewer jobs in Canada and 102,000 fewer in the U.S. Canada's Trade Minister Dominic LeBlanc is currently in Washington to negotiate a new deal with U.S. Trade Representative Jamieson Greer.
Written by urgent.news from Global News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
