The Wall Street Journal‘s Jeffrey Sparshott quotes me in this morning’s Real Time Economics newsletter:
Don’t Call it Nafta
The House of Representatives approved President Trump’s amended North American trade pact on Thursday. The U.S. Mexico Canada Agreement, or USMCA, passed by a 385 to 41 vote. The Senate is expected to approve the legislation early next year, after which the president would sign it into law. Mexico’s Senate has approved the deal, but it needs ratification in Canada to enter into force and replace the North American Free Trade Agreement, or Nafta.
The Competitive Enterprise Institute’s Ryan Young: “Its economic impact will be almost too small to measure.”