Us Trade Agreement Mexico Canada

The following day, October 1, 2018, the USMCA text was released as an agreed document. An April 2019 International Trade Commission analysis of the likely effects of the USMCA estimated that the agreement, if fully implemented (six years after ratification), would increase U.S. real GDP by 0.35 percent and increase total U.S. employment by 0.12 percent (176,000 jobs). [114] [115] The analysis cited in another Congressional Research Service study showed that the agreement would not have a measurable impact on employment, wages, or overall economic growth. [114] In the summer of 2019, Larry Kudlow (the director of the National Economic Council of the Trump White House) made unfounded allegations about the likely economic impact of the deal and exaggerated forecasts in terms of jobs and GDP growth. [114] The pact catalyzed Mexico`s transition from one of the world`s most protectionist economies to one of the most open to trade. . .

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