The NAFTA agreement has come under threat as the trump administrator calls it an ‘unfair’ deal. Canada seeks WTO(World Trade Organization) intervention as it lodges dispute in it to save it three-quarters of it billion dollars export with it’s southern neighbor United States of America. Most of the exports are related to automobile industry. The Canadian Administrative calls the new latest rules a breach under WTO rules. Trump wants most of the plumping tools and steel pipe exports to the united states to be stopped.
In the latest, the NAFTA talks haven’t made any new progress. In the sixth meeting the agreement couldn’t reach any conclusive end and little to no-little progress was made. Meanwhile, the World Bank has also sliced the GDP growth of Canadian economy by half from its 3 Percentage growth to now updated 2 Percentage.
The story isn’t same for all other countries. The IMF(International Monetary Funds) had upgraded the world economy growth from 0.2% growth to 3% in its latest update. It also upgrades the United States Economy Growth rate to be 2.7% an increase from 2.3% previously predicted.