President Donald Trump called a new, preliminary deal with Mexico "The U.S.-Mexico Trade Agreement," announcing Monday that he had kept a campaign promise to terminate the North American Free Trade Agreement.
NAFTA consisted of the United States, Mexico, and Canada.
Trump said he wanted to include Canada as well in a replacement trade pact.
"NAFTA was out of whack. It led to serious trade deficits," Lighthizer told reporters in a conference call after Trump made the announcement.
The White House contends that NAFTA contributed to the United States' trade deficit, which grew from $115 billion in 1993, the year before NAFTA's implementation, to nearly $800 billion in 2017.
The United States went from a $1.6 billion goods trade surplus with Mexico to a $70 billion goods trade deficit during that same time period, according to the White House.
The agreement between the U.S. and Mexico is a positive sign that some of the issues have been resolved, said Tori Whiting, a trade economist with The Heritage Foundation.
https://www.dailysignal.com/2018/08/27/in-ditching-nafta-trump-reaches-deal-with-mexico-invites-canada-to-join/
NAFTA consisted of the United States, Mexico, and Canada.
Trump said he wanted to include Canada as well in a replacement trade pact.
"NAFTA was out of whack. It led to serious trade deficits," Lighthizer told reporters in a conference call after Trump made the announcement.
The White House contends that NAFTA contributed to the United States' trade deficit, which grew from $115 billion in 1993, the year before NAFTA's implementation, to nearly $800 billion in 2017.
The United States went from a $1.6 billion goods trade surplus with Mexico to a $70 billion goods trade deficit during that same time period, according to the White House.
The agreement between the U.S. and Mexico is a positive sign that some of the issues have been resolved, said Tori Whiting, a trade economist with The Heritage Foundation.
https://www.dailysignal.com/2018/08/27/in-ditching-nafta-trump-reaches-deal-with-mexico-invites-canada-to-join/
No comments:
Post a Comment