Trump's attacks on America's trade deficits ignores how integrated the three North American economies have become, and treats the pact as a competition instead of a mutually beneficial agreement, UBC trade expert Werner Antweiler told Xinhua on Thursday.
"There are people in the Trump administration, including the president himself, who just don't understand macroeconomics, and this obsession with trade deficits is misplaced," Antweiler said.
He said manufactured products, especially in the auto sector, are linked closely across borders, with parts crossing the borders several times during vehicle assembly.
The Trump administration runs the risk of harming state economies that rely on direct trade with Canadian provinces in the auto sector and other industries, he said.
"We actually see a very integrated auto sector," he said. "In that sense, it's not just the bilateral negotiation that is important, but it's also the extent to which the various U.S. players and the U.S. states that are involved will also put weight on the administration... to relent and actually not make anything worse for them."
Antweiler said eliminating a trade deficit with Mexico and Canada wouldn't necessarily create more jobs in the U.S., as Trump has claimed. Nor would tearing up NAFTA altogether.
"The labour market, as it is, trade only reshuffles jobs from one sector to another, and most of these jobs that the United States has lost over the years in the manufacturing sector, they have reshuffled into the services sector," he said.
【国际英语资讯:Canadian trade experts blast Trumps trade deficit complaints】相关文章:
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