Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Students
    • All Topics
  • Contact
  • Submit
Business & Economy
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
Sections
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Students
    • All Topics
  • Contact
  • Submit
Business & Economy

For Small Upstate Companies, Sustaining Strong Canadian Trade Ties is Critical

Tuesday, August 28, 2018, By Daryl Lovell
Share
economicsTrade WarUpstate New York

On Monday, President Trump announced the U.S. and Mexico had reached an agreement to revamp the North American Free Trade Agreement. Canada – the other member of Nafta – has not agreed to the new terms and is scheduled to hold discussions today.

Professor Peter Koveos is the Department Chair in Finance and teaches a range of courses in finance, international business and global entrepreneurship at Syracuse University’s Whitman School of Management. Koveos says the impact of Canada’s trade with Upstate New York companies is immense. For small companies especially, Canada is the first market they think of when deciding to expand internationally.

Koveos says:

“We have very few details on the U.S.-Mexico Agreement…in fact, it’s not really an ‘agreement’ yet. We know that it primarily dealt with automobile production and the Investor-State-Dispute-Settlement (ISDS) rules. It also contained some changes regarding the duration of the agreement.

“Those on the Mexican side – and many members of the U.S. Congress – view Canada’s participation as fundamental to the overall success of the trade environment in North America. Despite some specific trade conflicts through the years, the U.S.-Canada relationship has been supported by every other President and Congress since then. Canada now has a few days to decide, but wants to examine the details. At the same time, President Trump threatens Canada with increased tariffs.

“The good news is that Prime Minister Trudeau places the welfare of Canada’s citizens above any personal insults thrown his way. I am sure that Canada has a strong preference to join, but will not be forced into unfavorable terms. Given the time pressure, perhaps an intermediary ‘agreement to agree’ could be reached by Friday.

“The situation, of course, is even further complicated by domestic policies (especially in the U.S. and Mexico). So, as long as economic issues are at the mercy of politics, the outcome is even more uncertain. One has to ask: What are we trying to accomplish by eliminating Nafta?”

To request interviews or get more information:

Daryl Lovell
Media Relations Manager
Division of Communications and Marketing

T 315.443.1184   M 315.380.0206
dalovell@syr.edu | @DarylLovell

820 Comstock Avenue, Suite 308, Syracuse, NY 13244
news.syr.edu | syracuse.edu

Syracuse University

  • Author

Daryl Lovell

  • Recent
  • Energy Studies Aim to Cut Greenhouse Gas Emissions and Energy Usage in Largest Energy Consumers on Campus
    Wednesday, March 29, 2023, By Lydia Knox
  • Reconstructing the Lives and Genealogies of Enslaved People: Maxwell, iSchool Faculty Partner on Searchable Database on the ‘’Cuse Conversations’ Podcast
    Wednesday, March 29, 2023, By John Boccacino
  • Office of Veteran and Military Affairs Announces 2023 Dottle Scholars for the Spring Semester
    Wednesday, March 29, 2023, By Charlie Poag
  • Community Police Academy Graduates a New Class
    Wednesday, March 29, 2023, By Alex Haessig
  • Newhouse School Announces Winners of 2023 Toner Prizes for Excellence in Political Reporting
    Wednesday, March 29, 2023, By Genaro Armas

More In Business & Economy

Tree-Spun Wins 2023 Hult Prize Competition Qualifier

Rob Goldblatt ’23, a student in the Martin J. Whitman School of Management and co-founder of Tree-Spun, and his teammates, Paul Sausville and Nicole Byrnes, both from SUNY College of Environmental Science and Forestry, won the 2023 Syracuse University Libraries’…

Trip Inspires Business Venture for Maxwell Alums

During a 2018 visit to Oaxaca, Mexico, Fabiola Lara and Sabith Khan soaked up the rich cultural traditions of artisans who sell handmade goods like baskets, rugs, coverlets and clothing. But the married Maxwell alumni pair were troubled by the…

2022 Holiday Retail Expectations

While the Black Friday 2022 shopping event is still a week away, holiday deals and sales promotions have already been underway for weeks at some of the nation’s largest retailers. Ray Wimer is an assistant professor of retail practice at…

2023 Panasci Business Plan Competition Announced

Interested in learning how to write a business plan? Have a great idea for a business but are not sure how to get the funding you need? Looking for access to amazing mentors? Prepare yourself (and your team) by signing…

Bandier Program Named Top Music Business Program

The Newhouse School’s Bandier program for recording and entertainment industries has been named a top music business program by Billboard magazine. The program has been included on the publication’s “Top Music Business Schools” list every time it has run. The…

Subscribe to SU Today

If you need help with your subscription, contact sunews@syr.edu.

Connect With Us

  • Facebook
  • @SyracuseUNews
  • Youtube
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
  • @SyracuseU
  • @SyracuseUNews
  • @SUCampus
  • Social Media Directory
  • Accessibility
  • Privacy
  • Campus Status
  • Syracuse.edu
© 2023 Syracuse University News. All Rights Reserved.