Wednesday, August 29, 2018
U.S./Mexico Trade Deal by Daniel W.
https://www.cnbc.com/2018/08/27/mexican-official-says-nafta-talks-with-us-have-concluded.html
President Donald Trump has recently reached a trade deal with Mexico. On Monday, Trump announced that he will be terminating the North American Free Trade Agreement and that the new accord will be called “United States-Mexico Trade Agreement.” The President has said many times that Nafta was the worst trade deal in history and that it had a bad connotation for the United States. When asked if Canada can still be part of the trade pact, Trump said “We’ll see,” and “We are starting negotiations with Canada pretty much immediately.” The deal is expected to help U.S. farmers, who export most of their products to Mexico and Canada. General Motors and Ford each climbed more than 3% monday in reaction to the trade deal which requires that at least 75% of a car’s parts must come from North America to avoid tariffs. In addition, the Nasdaq and the S&P 500 hit all-time highs Monday after the announcement of the trade pact. According to National Economic Council Director Larry Kudlow, the deal is going to promote economic growth on both sides of the border and that Trump plans to make trade deals with Japan and the European Union.
Will Canada become a part of the trade deal? Who will the agreement benefit the most in the long term? What does this mean for future trade negotiations? How will this effect the presidential election in 2020?
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I think that Canada will become a part of the trade deal because Canada does get a large percent of American farm exports. America will most likely benefit from the long term trade deal because certain stock companies have already rose due to the announcement, and they will most likely continue to rise. It will also put Americans to work since both General Motors and Ford must kept 75% of their parts American-made. The new trade deal will most likely have a positive impact on future trade negotiations because it shows that America will adapt to the needs of their people. I think this will positively affect the presidential election in 2020 because of the positive impact it will have on the economy. -Liberty C.
ReplyDeleteI didn't have much prior knowledge about this topic, but I found your blog thoughtful and interesting. Naturally, I think we will have to come up with some kind of deal with Canada because, according to USTR.GOV, it has been our greatest export in the recent past. I think it will be interesting to see if the President can translate his business skills over to diplomatic trading agreements, and of course, I certainly hope so. Thus far, it seems that he has managed to make mostly peaceful negotiations.
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