February 4, 2018

DONALD WHO?:

Canada and Mexico Prepare for Life After NAFTA: Canada and Mexico aren't bending to U.S. demands, because they've got alternative trading partners. (KEITH JOHNSON, BETHANY ALLEN-EBRAHIMIAN | JANUARY 29, 2018, Foreign Policy)

Even as the Trump administration continues to try to compel its neighbors to accept a revised trade deal on its own terms, Canada and Mexico are forging ahead with new trade pacts of their own. That's a sign of how much the global economy has changed since NAFTA was written a quarter-century ago, and of continued global momentum for multilateral free trade agreements despite President Donald Trump's "America first" trade skepticism.

Canada and Mexico signed on last week to a new Trans-Pacific Partnership with nine other Pacific Rim nations, a massive trade pact that doesn't include the United States after Trump withdrew soon after taking office. Last fall, Canada's trade accord with the European Union went into effect -- something the United States has yet to achieve. Mexico expects to revise its own trade deal with the European Union this spring.

And Mexico and Canada are both taking part in yet another free trade bloc, the Pacific Alliance, which now encompasses Colombia, Peru, Chile, Singapore, Australia, and New Zealand.

It could actually be healthy when the next president seeks admission to existing free trade blocs on their terms instead of ours. It is a surrender of sovereignty but the one necessary one.

Posted by at February 4, 2018 9:49 AM

  

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