Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • 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
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • 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
economicsNAFTATrade 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
  • Professor Jianshun ‘Jensen’ Zhang Named Executive Director of Syracuse Center of Excellence
    Tuesday, June 28, 2022, By Diane Stirling
  • Worried About Market Volatility? Investment Experts Address Concerns and Share Strategies in Recent TIAA Webinar
    Tuesday, June 28, 2022, By News Staff
  • DataInsights to Replace MyReports Effective Nov. 1
    Tuesday, June 28, 2022, By Eric Ferguson
  • Professor Corrine Occhino Awarded Grant to Promote ASL Among Deaf Refugees
    Monday, June 27, 2022, By Martin Walls
  • Behind the Greens With Drumlins’ Peter McPartland
    Friday, June 24, 2022, By Abby Haessig

More In Business & Economy

Blackstone LaunchPad to Host Arts Entrepreneurship Accelerator for Creatives This Summer

Creative business coach Peter DePasquale ’12 (dual B.F.A. in arts education and printmaking), as well as an M.F.A. (printmaking from the School of the Art Institute of Chicago) will be leading a four-week intensive boot camp accelerator to help students…

Blackstone LaunchPad to Co-Host Black Tech Panel at Tulsa Juneteenth Festival 2022

The Blackstone Charitable Foundation is joining forces with Syracuse University Libraries’ Blackstone LaunchPad (LaunchPad) to host Tulsa Juneteenth Festival’s Black Tech Panel on Friday, June 17. Powered by CLLCTVE, a company founded by Syracuse University alumna Kelsey Davis ’19, G’20,…

Whitman Assistant Professor Named to Poets&Quants Top 40-Under-40 MBA Professors Worldwide

U. David Park, assistant professor of entrepreneurship in Syracuse University’s Martin J. Whitman School of Management, was honored as one of the Poets&Quants top 40 under 40 MBA professors. This is the 10th edition of their annual recognition, whose goal remains…

Rabia Razzaq G’23 Wins 2022 Intelligence++ Inclusive Design Competition

Rabia Razzaq G’23, a multidisciplinary designer and graduate student in the College of Visual and Performing Arts, won the 2022 Intelligence++ Showcase Competition, held in the Whitman School of Management on April 26. The interdisciplinary competition—which encourages design and business…

Whitman School Receives STEM-Designation for Master’s in Professional Accounting Program

The Martin J. Whitman School of Management’s master’s in professional accounting program has received STEM-designation. The class of 2022 will be the first to graduate with this new STEM certification. “We have made notable innovations to our master’s in professional…

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
© 2022 Syracuse University News. All Rights Reserved.