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The New NAFTA

Courtesy+of+USA+Today
Courtesy of USA Today

Courtesy of USA Today

Courtesy of USA Today

Aleeza Adnan, Staff Writer

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  On Monday, October 1st, 2018, The United States, Mexico, and Canada implemented a trade deal called USMCA that could potentially replace the 25-year old NAFTA. The deal is scheduled to be signed by November and then Congress will make their decision. President Trump has publicly announced his plan to void NAFTA after five years if USMCA is not passed, but it was ultimately decided that it would continue for at least 16 more years.

  The transition between NAFTA and USMCA could alter the economy of the North American continent in numerous ways.

There are mixed feelings about the transition of NAFTA to USMCA. An AFL-CIO Trade Policy Specialist, Celeste Drake stated, “the bottom line is that we simply do not have enough information at this time to know whether NAFTA 2018 is in the economic interests of the United States.”

  However under USMCA, America’s trading economy will fluctuate as Canadian dairy markets will be opened up to United States farmers. This will be beneficial to American farmers to export more of their products but threatens to harm Canadian dairy producers as they face increased competition. Having looked into the topic, Chaturika Bandera (10) said, “I believe the USMCA is better than NAFTA because we need the increased money it inputs in our economy.”

  The new agreement also allows for an increase of 12% in car parts manufactured in all of North America. This will boost  North American car manufacturing to 75% of the global market. This is projected to help the American workers who make 40-45% of the total car parts. The Trump administration’s goal is to distribute billions of dollars into the pockets of American automobile workers by ensuring higher wages for them.

  Lindsey Kim (11) who has studied the nuances of NAFTA said, “I don’t like it (USMCA) because of change, but there may be some pros to it. Overall, I think President Trump is being very nationalistic and I don’t have an issue with that unless it hinders his ability to make logical decisions.”

   The agreement has not been finalized, leading to uncertainty of whether it will benefit the USA or not. Further decisions will be made depending on Congress’s approval or rejection of the revised trade agreement.

 

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The New NAFTA