OpEd: Woe is the United States-Mexico-Canada Agreement
As the most reliable and balanced news aggregation service on the internet, DML News App offers the following opinion editorial written by contributor James M. Cooper and published by TheHill.com:
The absence of President Donald Trump and his acting chief of staff, Mick Mulvaney, at the White House’s annual Cinco de Mayo celebration may have signaled what many believe: the United States-Mexico-Canada Agreement (USMCA), a replacement for NAFTA, is doomed. The deal that could govern some $1 trillion in regional trade is not likely to pass any of the legislatures of the partner countries.
President Trump’s signature promise during his campaign for the presidency was the elimination of the North American Free Trade Agreement — “the worst trade deal in history,” as he put it. His U.S. trade representative, Robert Lighthizer, and son-in-law/adviser Jared Kushner spent months reworking the agreement to get all three countries on board by Sept. 30, 2018, a record-breaking time for trade negotiations.
The article goes on to state the following:
And while Trump has promised that the USMCA would bring about economic gains for U.S. farmers and return manufacturing jobs to the U.S. automobile sector, a recent report from the United States International Trade Commission confirmed the deal would bring about minimal economic gains for the United States. Only by the sixth year of the agreement would there be any noticeable benefit — a rise in gross domestic product of $62.8 billion, or 0.35 percent.
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