Canada-U.S. Blog Trade Lawyers Cyndee Todgham Cherniak and Susan K. Ross

Move over BRIC, the Acronym of 2017 Will Be MIC

Posted in Trade Agreeements

Business team on top of the globe. European and African side. Conceptual business illustration. Isolated

It used to be we talked about BRIC (Brazil, Russia, India, China).  We will now be talking about MIC (Mexico, India, China). We used to talk about the developing markets of consumers.  We are now going to be talking about trade.  However, MIC means different things to different countries.  The United States wants to reduce inbound trade from MIC.  Canada, on the other hand, will/should be talking free trade agreements with MIC.  Canada is starting free trade agreement exploratory discussions with China.  Canada and Mexico will discuss a bilateral trade agreement if Mexico-US irritants escalate.  India is quiet now, but Canada has a concluded free trade agreement that has stalled.  It might be time for Canada to re-engage with India before India becomes a country of concern for President Trump.