A new report from the U.S. International Trade Commission indicates that President Trump’s new trade deal will create American jobs and grow the economy.
Trump has put renegotiating trade deals with other countries at the forefront of his legislative agenda. The United States — Mexico — Canada Trade Agreement (USMCA) updates NAFTA to include new automotive rules, new protections for intellectual property rights, and modernizing agricultural trade to benefit American farmers.
According to the report, the USMCA would raise U.S. real GDP by $68.2 billion and create approximately 176,000 American jobs. The USMCA would increase U.S exports to Canada by $19.1 billion, and increase U.S. exports to Mexico by $14.2 billion. Under the new agreement, U.S. imports from Canada are projected to increase by $19.1 billion, and U.S. imports from Mexico are projected to increase by $12.4 billion. The report estimates that the USMCA would have a positive impact on all U.S. industry sectors, with the manufacturing and services sectors experiencing the most gains.
Trump has put renegotiating trade deals with other countries at the forefront of his legislative agenda. The United States — Mexico — Canada Trade Agreement (USMCA) updates NAFTA to include new automotive rules, new protections for intellectual property rights, and modernizing agricultural trade to benefit American farmers.
According to the report, the USMCA would raise U.S. real GDP by $68.2 billion and create approximately 176,000 American jobs. The USMCA would increase U.S exports to Canada by $19.1 billion, and increase U.S. exports to Mexico by $14.2 billion. Under the new agreement, U.S. imports from Canada are projected to increase by $19.1 billion, and U.S. imports from Mexico are projected to increase by $12.4 billion. The report estimates that the USMCA would have a positive impact on all U.S. industry sectors, with the manufacturing and services sectors experiencing the most gains.