CUSMA Exit Would Hit Canada Hard: Report

A recent report suggests that if the U.S. were to exit the Canada-United States-Mexico Agreement (CUSMA), the impact on Canada's economy would be severe but not catastrophic.

The report, which has not been made public, is said to have found that a U.S. exit from CUSMA would result in significant economic losses for Canada, but would not have a 'cataclysmic' effect.

Canada's trade minister, François Champagne, had previously stated that the removal of U.S. seafood from Canada's counter-tariff list was in Canada's best interests and would help to alleviate some of the pressure on Canada's economy.