International Economics: IB Economics

The new NAFTA-style trade deal between the US, Canada and Mexico has been ratified, with President Trump declaring it the 'greatest deal ever' - perhaps - and everyone else wondering what has changed.

Either way, it's designed to increased inter-regional trade, by reducing trade barriers.

Jeffrey Frankel on the USMCA trade deal, something that he argues is little different to NAFTA but which does, at least, put America first.

However, he suggests that the USMCA isn't as good a deal for the economies concerned as the TPP. Which is enough of the TLAs.

Goodbye NAFTA, hello USMCA. Not immediately as its predecessor, but sung to the tune of Ottawa's D-I-S-C-O it might work. 

However, what it does mean is that there's a new trade deal in town, although it has yet to be ratified and Justin Trudeau appears lukewarm about the deal.

Correct your economic maps - NAFTA is the United States-Mexico-Canada Agreement (USMCA). Catchy acronym!

Is President Trump a stable genius after all - this deal didn't seem likely and apparently hinges on the US getting more access to the Canadian diary market and restricting Canadian car exports to the US.

Is the President's attitude to trade negotiations that of the man driving a hard bargain with a street trader - you barter like mad, and if they finally accept, then the trade is mutually agreeable? And at what point does this become bullying.