NAFTA The question on the mind of every CEO, union leader, politician, investor, auto worker and trade lawyer—indeed, anyone with a stake in NAFTA’s survival—is what next? For more than 20 years, NAFTA has been a source of economic growth for the world’s largest trading bloc. Most economists view the free trade deal as a net positive for the three nations. In a speech in August, Foreign Affairs Minister Chrystia Freeland said Canada’s economy is 2.5 per cent larger every year than it would be without NAFTA: “It is as if Canada has been receiving a $20-billion cheque each year since NAFTA was ratified.” It’s safe to say that companies with the heaviest exposure to the U.S. will be hit hardest and fastest. “Canadian exporters would really get hammered in the capital markets,” Lee says. “When markets are uncertain, you err on the side of caution. What would the market do to those companies? They wouldn’t know how much of their sales would be going down. I can’t predict a ...