NAFTA and Trade Impact Assessment

The video discusses NAFTA's dual impact as both beneficial and detrimental, supporting millions of jobs while also creating trade deficits with Mexico and Canada. It highlights the importance of trade in goods and services, and the potential cost increases if tariffs were imposed. Economists view trade agreements from a broad perspective, balancing job losses with consumer benefits.

What is the estimated number of American jobs supported by NAFTA according to the US Chamber of Commerce?

• 14 million

• 10 million

• 8 million

• 20 million

Which type of trade includes transportation and travel?

• Exports

• Goods

• Services

• Intangibles

What does President Trump often criticize about NAFTA?

• It causes a trade deficit

• It creates too many jobs

• It increases taxes

• It reduces consumer prices

In 2016, what was the value of goods exported by the US to Mexico?

• $231 billion

• $278 billion

• $294 billion

• $266 billion

What was the trade deficit between the US and Canada in 2016?

• $12 billion

• $278 billion

• $63 billion

• $231 billion

How much more would potatoes from Mexico cost if tariffs were added?

• 50% more

• 75% more

• 100% more

• 25% more

What is the cost of a bag of potatoes from Mexico on Amazon without tariffs?

• $15

• $27

• $11

• $19.25

How much more would clothing from Mexico cost if tariffs were added?

• 15-20% more

• 20-25% more

• 5-10% more

• 10-15% more

Why do economists tend to look at trade agreements from a high level?

• To focus on individual jobs

• To assess the overall economic impact

• To increase taxes

• To reduce consumer prices

What is one benefit for American consumers due to NAFTA?

• Higher prices for goods

• More expensive clothing

• Cheaper shopping bills

• Increased taxes