Gary Clyde Hufbauer and Jeffrey J. Schott: Under the Hood, the USMCA Is a Downgrade for North America: "Trump... called the North American Free Trade Agreement (NAFTA) the worst trade deal ever made. Trade negotiators have branded its intended replacement... a 'modernized' improvement.The upgrades draw heavily from the Trump-abandoned Trans-Pacific Partnership.... The deal also includes costly new regulations and requirements that discourage investment, especially in the auto sector... higher prices for cars at a time when auto sales are flagging. Ford and GM are already laying off workers.... The USMCA limits trade more than promoting it...


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