Trump Could Use NAFTA To Bully Canada's Emerging Cannabis Industry | CashCropToday
0 Shares 87 Views

Trump Could Use U.S. Trade Agreements to Bully Canada’s Emerging Cannabis Industry

March 7, 2018
87 Views

Last month, (allegedly) following a call from U.S. President Donald Trump, Israeli Prime Minister Benjamin Netanyahu delayed a long-held plan to export Israeli medicinal cannabis. It was a troubling moment for Canada’s cannabis sector, as it signaled the possibility that he could try a similar direct or indirect tactic to hamper Canada’s own legal cannabis and export industry.

This year, Canada will become the largest country in the world to legalize adult-use recreational cannabis. With the legalization of recreational cannabis, Canada is seeking to further expand its lead in the worldwide cannabis sector. Health Canada has granted several Canadian companies licenses to export cannabis. Canadians should not be overly optimistic on how the industry is viewed by the U.S. because neither recreational cannabis nor medicinal cannabis are legal federally in the U.S. — making banking, accessing capital markets and inter-state and international trade illegal.

President Trump came into office promising to renegotiate the nation’s trade deals. All U.S. trade agreements (including NAFTA) preclude the trading partner from legalizing any drug that the federal government classifies as illegal. That is why so many nations have ‘decriminalized’ cannabis vs. making it legal. Now, many proponents of the cannabis industry fear that the NAFTA renegotiation may give the Trump administration the muscle to try and derail the industry before it gets off the ground.

You may be interested

MedMen Begins Construction of Cannabis Cultivation and Manufacturing Facility in California
Growers
4 views
Growers
4 views

MedMen Begins Construction of Cannabis Cultivation and Manufacturing Facility in California

Sam Rosenberg - May 24, 2018

Med Men Enterprises has begun construction on a large scale cultivation and manufacturing facility in Desert Hot Springs, California. The new facility is expected to become operational…

Canopy Growth Corp. to Begin Trading on New York Stock Exchange Today
Market Watch
3 views
Market Watch
3 views

Canopy Growth Corp. to Begin Trading on New York Stock Exchange Today

Sam Rosenberg - May 24, 2018

Canopy Growth Corporation (TSX: WEED) announced this morning that the company is expected to begin trading on the New York Stock Exchange (NYSE) this morning under the ticker…

Colorado Passes Bill to Allow Public Companies to Invest into Cannabis  Businesses
Politics
7 views
Politics
7 views

Colorado Passes Bill to Allow Public Companies to Invest into Cannabis Businesses

Sam Rosenberg - May 23, 2018

Colorado has just passed a House Bill 18-1011 which will allow publicly trade companies in the U.S. to invest and hold medicinal or recreational cannabis cultivation, processing,…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: