NAFTA failure would hit currencies

A failure of the North American Free Trade negotiations would likely reduce the value of Canadian currency by 10 per cent and Mexico’s by 15 to 20 per cent, predicts Rabobank.

That would, in turn, increase United States imports from both countries, including imports of meat, fruits and vegetables.

But negotiators are working around the clock in Washington, trying to reach a deal before the U.S. deadline of May 1 when, if there is no deal, tariffs on steel and aluminum will kick in.