Trump declines to renew USMCA, threatening North American tariff-free trade
By
Paul Krugman
Summary
Donald Trump has declined to renew the USMCA (the successor to NAFTA), putting tariff-free trade within North America at risk. The article argues that this is a significant development despite being overshadowed by other crises, and pushes back against the notion that a future president will simply reverse the decision. It explores the fundamental nature of trade agreements and the consequences of their impermanence for North American economic integration.
Source
Hacker NewsTrump declines to renew USMCA, threatening North American tariff-free tradepaulkrugman.substack.comKey quotes
· 3 pulledIn what would be major news except for all the other disasters happening, Donald Trump has declined to renew the USMCA — the successor to the North American Free Trade Agreement — which he himself negotiated.
This puts businesses on notice that tariff-free shipments within North America, which NAFTA supposedly made permanent, may go away.
Some commentators have dismissed this as no big deal, because Trump's successor will probably reverse his decision and make the USMCA permanent after all. However, this misses the point of such agreements.
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