Canada’s PM Says NAFTA Created Jobs

President Trump once called NAFTA “the worst trade deal maybe ever signed anywhere.”

Canadian Prime Minister Justin Trudeau sees it differently.

“It has led to a lot of great jobs for a whole lot of people on both sides of the border,” Trudeau told NBC News’ Tom Brokaw in an interview in New York that aired Thursday.

Trudeau’s defense of NAFTA, the trade deal between his country, Mexico and the U.S., mirrors what many Mexican officials too have argued: Overall, it’s benefited all three countries.

“The treaty itself has been a very efficient tool to improve the U.S.-Mexico relationship,” Mexico’s economy minister, Ildefonso Guajardo told Bloomberg on Feb. 27.

But Trump and many of his supporters hold the opposite view. They blame NAFTA, which became law in 1994, for a flood of U.S. manufacturing jobs moving to Mexico.

Congressional nonpartisan research concluded in 2015 that NAFTA did not trigger an exodus of jobs. According to the U.S. Chamber of Commerce, 14 million U.S. jobs depend on trade with Mexico and Canada.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza