The Trump administration is determined to renegotiate the North American Free Trade Agreement (NAFTA) -- which created a single market from Mexico’s southern border to the Yukon -- but the main political appeal of this policy rests on a popular myth: that “fair” trade requires the United States to have a surplus or balanced trade with both Mexico and Canada.
There are so many unusual, unprecedented aspects of Donald Trump’s first 100 days in office that it’s hard to know where to begin.
Hay tantos aspectos inusuales y sin precedentes de los primeros 100 días de ejercicio de Donald Trump que resulta difícil saber dónde comenzar.
General Motors became the latest in a wave of international companies that have shut their doors voluntarily or under duress.
Among President Donald Trump’s first acts was an order withdrawing from the TPP. This fulfilled Trump’s campaign promise to torpedo the high-profile agreement between the United States and 11 other Pacific Rim countries, led by Japan and Mexico. As important, it symbolized Trump’s conviction that ineptly negotiated trade agreements are at the core of America’s economy’s problems.
”Mexico braces for a trade war with Washington,” headline in the Financial Times, Jan. 31, 2017.
Let’s hope not, because a trade war triggered by President Trump would be an act of pure economic aggression, unjustified either by the United States’ economic and political interests or by Mexico’s behavior. It would be the economic equivalent of Russia’s seizure of the Crimea, a raw exercise in bullying.