Trump's signature NAFTA rewrite could actually dampen US growth, new analysis finds - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Trump's signature NAFTA rewrite could actually dampen US growth, new analysis finds

his signature rewrite of North American commerce rules as the "best and most important trade deal ever made," saying it would benefit vast parts of the economy from the agricultural sector to factories.

But economists are less optimistic the United States-Mexico-Canada Agreement will deliver the sweeping growth the president promised. In a new analysis, the Peterson Institute for International Economics estimated the agreement would instead cause US growth to decline by 0.12%. Under the new agreement, 75% of car components must be made in Canada, Mexico or the United States. While an increase from the previous requirement of 62.5% was meant to bolster the sector, it could actually raise input costs and slow activity.

USMCA won the endorsement of the powerful AFL-CIO last week, offering a green light for Democratic support. The agreement also toughens labor and environmental standards in North American trade.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If prices go up it is not due to production/labor costs, it is due to pure greed. Profits in the billions is what Ford makes yearly. They should just eat the cost & be grateful for the billions they make. It's akin to apple making iphones for dollars & selling it for a K.

Fake News

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TD Bank tops US customer satisfaction ranking - Business Insider - Business InsiderTD Bank likely stood out due to the service quality of its branches and its strong checking account offerings and digital banking services: Yeah, they beat me too---They need to correct it---Because they stole funds out the account and closed it--
Source: BusinessInsider - 🏆 729. / 51 Read more »

Mercedes-Benz is delaying the US release of its Tesla rival by a year - Business InsiderMercedes-Benz is delaying the US release of its electric EQC SUV from the first quarter of 2020 to 2021, Automotive News first reported. The 2012 Tesla Model S was better than this thing Shorter and less confusing title: 'MB is delaying its EQV SUV release in the US to Q1 2021' Why
Source: BusinessInsider - 🏆 729. / 51 Read more »

More people support Warren wealth tax than Trump border wall: Fox poll - Business InsiderIt's the latest poll suggesting the Warren wealth tax enjoys wide support across the American public. Most Republicans back the plan as well. No Tax is the best policy which is going to improve recession and to increase the wealth in the country so that everyone can live happily, healthier and wealthier... When all else fails, stupidity prevails The wall stands realDonaldTrump , ewarren will fall Hells yeah. This independent wants to tax the rich. If it was up to me, Bezos would be driving Uber to pay bills.
Source: BusinessInsider - 🏆 729. / 51 Read more »