[Via: Benzinga]
After a harrowing week of questioning the endurance of NAFTA, it seems that the trade deal’s greatest stakeholders can sigh in relief. President Donald Trump confirmed Thursday his willingness to continue work with Mexico and Canada to renegotiate the terms of the agreement.
For states like Michigan, the president’s strategy is good news.
“Its biggest import is ‘Car Parts’ and its biggest import partner is Mexico, so it’s likely that many of those imported car parts are from Mexico. Michigan’s largest export category is ‘Transportation Equipment’ and its largest export partner is Canada,” Mark Perry, scholar at the American Enterprise Institute, said. “So, it’s probably the case, partly because of NAFTA, that Michigan’s automotive sector benefits by importing car parts from Mexico, and then exporting finished vehicles to Canada.”
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After a harrowing week of questioning the endurance of NAFTA, it seems that the trade deal’s greatest stakeholders can sigh in relief. President Donald Trump confirmed Thursday his willingness to continue work with Mexico and Canada to renegotiate the terms of the agreement.
For states like Michigan, the president’s strategy is good news.
“Its biggest import is ‘Car Parts’ and its biggest import partner is Mexico, so it’s likely that many of those imported car parts are from Mexico. Michigan’s largest export category is ‘Transportation Equipment’ and its largest export partner is Canada,” Mark Perry, scholar at the American Enterprise Institute, said. “So, it’s probably the case, partly because of NAFTA, that Michigan’s automotive sector benefits by importing car parts from Mexico, and then exporting finished vehicles to Canada.”
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