Trade and Economics

USMCA, the updated North America Free Trade Agreement (NAFTA), is critical for U.S. economic security.  It has resulted in $775 billion invested in the United States by Mexico and Canada, 55% more investment than before USMCA came into effect in 2020—despite COVID.  USMCA makes North America an attractive cohesive market. 

Eye-catching headlines on trade and economic security gloss over the economic objective of trade: exchanging U.S.-made goods and services for those from foreign partners at an advantageous price benefiting both and boosting prosperity.  No one country has the resources, nor inclination, to be fully self-sufficient especially as standards of living continue to rise.  The current focus on domestic manufacturing and self-sufficiency ignores the additional economic benefits that