Posted on 09/04/2018 2:00:27 PM PDT by Thalean
In 1993, President Bill Clinton promised that the North American Free Trade Agreement (NAFTA) would create “a million [American] jobs in the first five years.” He also said NAFTA’s “side agreements” would “make it harder than it is today for businesses to relocate solely because of very low [Mexican] wages or lax environmental laws.”
Bill Clinton lied.
More than 800,000 American manufacturing jobs moved to Mexico since 1993, “solely because of very low [Mexican] wages or lax environmental laws.” Not only was Clinton wrong, NAFTA also caused numerous unintended harms: the post-NAFTA unemployment wave is largely to blame for the proliferation of Democratic governments in Midwest—a former GOP stronghold, I might add—wage stagnation, the opioid crisis, and general economic malaise.
President Trump is right: NAFTA is one of the “worst” deals in American history. And yet, the President’s replacement deal is little better. Although Trump’s deal mitigates NAFTA’s downsides, it fails to address the underlying problem: asymmetrical competition.
(Excerpt) Read more at amgreatness.com ...
uhhh...Trump didn’t negotiate NAFTA
Probably too to a great extent. From last week’s summary, NAFTA 2.0 seems like polish on NAFTA 1.0. It even includes support of unions in Mexico! I don’t see any control, restriction, or end to Mexican trucks and workers in the US. It also doesn’t put more responsibility on Mexico to halt human trafficing through Mexico, for them to stop encouraging their citizens to emigrate to the US, or to ask the 10s of millions of Mexicans in the US to return home. Flawed, incomplete.
“it fails to address the underlying problem: asymmetrical competition”
We need to move toward financially balanced international trade.
The US/Canadian balanced motor vehicle trade framework of my youth should be the model.
If I thought Rome was built in a day, I could probably think of plenty of criticism too; but it wasn’t, so I won’t. I think that he’s trying very hard to do the right thing. But he is up to his behind in alligators. So I’ll give him an opportunity to build gradually toward acceptable solutions to the mess he was handed. There is plenty of sniping going toward him from all quarters; there’s no need for me to add my 22 caliber worth.
New and improved NAFTA. It’s just like the old NAFTA but now with higher regional content for autos.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.