Countries Can Feel Good Walking Away from USMCA Deal, Says Hinrich Foundation

The video discusses the revisions in the NAFTA deal, highlighting benefits for both the US and Canada, such as increased access to Canada's dairy market and preservation of certain trade laws. It explores the broader implications of trade tensions with countries like China and Korea, suggesting that smaller, focused deals may be more effective. The discussion also covers the ongoing negotiations regarding steel and aluminum tariffs, emphasizing the need for future agreements. The video concludes by noting that the completion of the NAFTA renegotiation allows for a shift in focus to other trade issues.

What was one of the key benefits for the United States in the revised NAFTA deal?

• Reduction in steel tariffs

• Preservation of Chapter 19

• Increased agricultural exports

• Access to Canada's dairy market

How did Canada benefit from the NAFTA renegotiation?

• Increased exports to Mexico

• Reduced tariffs on dairy products

• Preserved a key chapter for trade remedy laws

• Gained access to U.S. automotive market

What strategy is suggested for future trade negotiations with China?

• Unilateral trade policies

• Complete trade embargo

• Small, focused agreements

• Large-scale comprehensive deals

What issue was set aside during the NAFTA renegotiation?

• Intellectual property rights

• Steel and aluminum tariffs

• Automotive rules of origin

• Agricultural subsidies

What is a potential benefit of completing the NAFTA renegotiation?

• Increased focus on other trade issues

• Immediate reduction in global trade tensions

• Complete removal of all tariffs

• Expansion of NAFTA to other countries