DEC Library: The Trade Deficit is Not Destroying Jobs ..

. . . But tearing up NAFTA will.

BY:  David M. Rubenstein Fellow – Global Economy and Development

All three countries openly say they don’t see eye-to-eye on many of the proposals brought to the negotiating table, and the Canadian representative even said some of those are against the rules of the World Trade Organization. The U.S. Trade Representative, Ambassador Robert Lighthizer was clear in restating that one of the two goals for the U.S. in the negotiation is to reduce the U.S. trade deficits that significantly increased since NAFTA (in particular with Mexico as the U.S. runs a trade surplus with Canada). For Lighthizer, who speaks on behalf of President Donald Trump, the deficit has cost the U.S. “tens of thousands of manufacturing jobs,” and the agreement “needs to be rebalanced.”

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