In a speech to a Canadian business audience in Ottawa, the president of the largest American business lobby group Tom Donohue warned, “withdrawing from NAFTA would be devastating for the workers, business, and economies of our countries.”
Donohue said putting tariffs on cross-border manufacturing in industries like automobiles would make both countries suffer.
He said the impact of tearing up NAFTA to bi-lateral trade, which hit $885 billion in 2015, could cripple the economies of both countries.
A full 75 per cent of what Canada manufactures and sells goes into the United States and, in the U.S., millions of American workers depend on NAFTA, 35 U.S. states have Canada as their number one export destination.
Donohue said both countries must react now before the White House starts gutting the free trade agreement.