Prospects for the international trade of perishable food products in 2018 are uncertain as changes to key trade agreements are being considered. President Trump made trade a major issue during the 2016 campaign, citing that many of the nation’s trade agreements were “bad deals.” Among the targets were the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership (TPP). Trump has already followed through on his promises to withdraw from the TPP and initiate the renegotiation of NAFTA.
The future of NAFTA will have a large impact on trade of perishable food, creating uncertainty for companies importing and exporting food in North America. Overall, NAFTA represents one of the largest free trade zones in the world, accounting for $1.1 trillion in trade between Canada, Mexico and the United States in 2016 alone.