Investors cheered Monday's announcement of a trade deal with Mexico, and appropriately so.
The agreement would offer a few notable adjustments to the original 1994 North American Free Trade Agreement, which primarily dealt with the trade in goods.
If a country wants a good trade relationship with the world's biggest market, it will need to adhere to modernized rules of fair play - particularly as they pertain to intellectual property.
Some of the initial evaluations of the trade deal with Mexico have been critical of the higher content rules, as they could result in higher consumer prices or lessen the competitive position of North American manufacturing.
The enhanced purchasing power that often resonates from trade deals is an indisputable economic good, but living standards are also based on income.
Just as was the case with the original NAFTA agreement, it takes years to identify the changes in trade patterns and business decisions that trade deals intend to influence.
The world has changed, and it's time trade agreements caught up.
http://thehill.com/opinion/finance/404532-the-hidden-benefits-of-the-us-mexico-trade-deal
The agreement would offer a few notable adjustments to the original 1994 North American Free Trade Agreement, which primarily dealt with the trade in goods.
If a country wants a good trade relationship with the world's biggest market, it will need to adhere to modernized rules of fair play - particularly as they pertain to intellectual property.
Some of the initial evaluations of the trade deal with Mexico have been critical of the higher content rules, as they could result in higher consumer prices or lessen the competitive position of North American manufacturing.
The enhanced purchasing power that often resonates from trade deals is an indisputable economic good, but living standards are also based on income.
Just as was the case with the original NAFTA agreement, it takes years to identify the changes in trade patterns and business decisions that trade deals intend to influence.
The world has changed, and it's time trade agreements caught up.
http://thehill.com/opinion/finance/404532-the-hidden-benefits-of-the-us-mexico-trade-deal
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