US-Canada Trade Deal Collapse Could Cost Over 300,000 Jobs

A new economic analysis has warned that ending the free trade agreement between the United States and Canada could have severe consequences, including the loss of over 300,000 jobs across both countries.

Oxford Economics, in a report prepared for the Canadian American Business Council, found that if the agreement were to expire, the US could lose around 214,000 jobs within a year, while Canada's potential losses would be estimated at 102,000 jobs.

The analysis also forecasts faster inflation in both countries, which would lead to increased consumer prices and business costs. The decline in the US GDP is expected to be $1.04 trillion, with Canada's economy potentially losing $208 billion in GDP.