There is going to be a new “NAFTA” (though it may wind up being called something else). A new tri-lateral trade deal between the United States, Canada and Mexico.
And, while we still do not know the specifics in minute detail, it what we do know is that this appreciably strengthens the United States’ position.
How did the Trump administration accomplish this? By negotiating from a position of strength and leverage – precisely the way a country with the most strength and leverage should negotiate, but which previous administratons did not.
As you are probably aware, a deal was struck with Mexico some time ago. Canada held out, presumably hoping that would get them more than if they just acceded to the United States’ demands. And maybe Canada did get a little more than a quick “yes” would have yielded.
But let’s be clear here: Canada had to come into this deal, or it would have become the “odd man out” in trade with the two largest economies in the hemisphere. So, with all the leverage on the United States’side, it is a virtual guarantee that the final agreement is significantly more advantageous (or, should I say, less disadvantageous) to us than the original NAFTA giveaway.
(Don’t be surprised to see the same thing happen with China in the near future. The “trade war” with Trump & Co. has tanked China’s economy – not ours, but theirs – and it needs a resolution. Fast.)
Will media give the Trump administration credit for this? Or will they, in effect, say, “oh, that’s nice, but what about stormy daniels and christine blasey ford”?
Given their coverage to the Trump administration finally getting billions and billions more from the European countries we protect through NATO, and the trade concessions from the European Union, I don’t expect much.
But, in the real world, it would be hard to overstate the economic triumphs this administration is producing.
On the other hand, maybe Barack Obama will pop up somewhere, assure everyone he was responsible for this, and get the credit instead.