REUTERS: U.S. lawmakers and economists are awaiting a key analysis of the economic impacts of the new North American trade deal, expected to be published late on Thursday and to show minimal gains at best for the United States.
The trade commission's report has been kept under wraps and will be used by U.S. lawmakers to help decide whether to support USMCA, which would replace the North American Free Trade Agreement that came into force in 1994. The renegotiation of NAFTA marked a major victory for Trump, who wanted to increase domestic jobs through more restrictive trade with Canada and Mexico and still salvage the three-country, US$1.2-trillion market.The report will measure the projected impacts of the changes on the U.S. gross domestic product, as well as areas more difficult to evaluate such as new rules of origin, intellectual property protections or elimination of non-scientific food safety barriers.
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