Since 1994, the North American Free Trade Agreement (NAFTA) has played a vital role in expanding trade between the US, Canada, and Mexico. NAFTA immediately eliminated tariffs on a large portion of goods, with many remaining tariffs phased out during the 14-year following. The reduction in tariffs and increase in competition is credited with mitigating price inflation, ultimately benefiting consumers. The agreement also reduced non-tariff barriers, established environmental and labor commissions, and increased protection of intellectual property. During the first 24 years of NAFTA US exports to Canada and Mexico increased 270.1% while American exports to rest of the world increased 215.9%, suggesting that the US export sector also benefited from NAFTA.

With the end of 2017 and the beginning of a new year, the season is perfect for retrospection and looking ahead to the opportunities in 2018. This past year was busy and full of change for the entire IEWC family. From record setting sales, to digital transformation initiatives, to succession planning, 2017 has been a bustling year and we expect 2018 to continue the trend.