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The current atmosphere of trade talks in North America should be a strategic warning signal to all industries including financial services. There is a good possibility that the agreement could be scraped or significantly changed with long term changes in manufacturing, agriculture, etc. When our customers are impacted so are we! We don't have a central role in the negotiations but will have to quickly adjust to the fall-out. Your strategic and business plans should be re-considered with the contingencies associated with the demise of NAFTA. There are strong protectionist elements in the negotiating atmosphere as well as other negative possibilities plus in-country controls on data and security.

Even though all of us have seen the global economy grow and benefit many developed and emerging economies, the unraveling of the operating freedoms will have diverse impacts on individual countries, industries and businesses, especially if one of the largest players no longer wants to participate according to present rules. No doubt revisions to the decades old agreement would be beneficial to bring it up to our current operating and regulatory environments. One thing is for sure, if we sit on the sidelines as spectators and do not participate directly and indirectly in the negotiating dialogues we will have no one to blame but ourselves. The public needs to hear from the key respected industry leaders from every industry.

Pat Palmer | Tuesday, October 31, 2017 | Trackbacks (0) | Permalink


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