WASHINGTON — President Donald Trump’s new North America trade agreement would give the U.S. economy only a modest boost, an independent federal agency has found. The International Trade Commission said Thursday that Trump’s U.S.-Mexico-Canada agreement would lift the U.S. economy by 0.35%, or $68.2 billion, and add 176,000 jobs six years after it takes effect. The commission’s analysis is required by law and is expected to kick off a contentious congressional debate on the regional trade pact designed to replace the 25-year-old North American Free Trade Agreement. NAFTA tore down most trade barriers between the United States, Canada and Mexico, leading to a surge in regional trade. It would create 30,000 jobs in American auto parts plants but cost 1,500 jobs in factories that assemble cars.

Source: National Post April 18, 2019 19:18 UTC