Trump has always described NAFTA as a terrible deal; he will, of course, say that USMCA is a vast improvement. Is he right?
No. USMCA helps American dairy farmers and, almost by accident, Canadian dairy consumers. It will drive up the cost of automobiles and drugs, which is not a plus. That’s about it. Whoop-de-doo.
Was this mouse worth all of the strife and uncertainty that we experienced over the last year or so? Does it really make sense to jeopardize your relationships with your neighbors and allies for such a paltry return? And is it likely that similar hardball tactics will produce the same results with the EU, the Japanese, and the Chinese, all of whom have more bargaining power than the Canadians and the Mexicans?
Are you kidding me? What this does is illustrate the difference between being the head of the Trump Organization and the President of the United States. The former can screw his negotiating partners over and never have to deal with them again; the latter cannot.
The worst case is that the Democrats decide that the new deal is not protectionist enough, and reject it on those grounds. It could happen. Stay tuned.