Many politicians and interest groups involved in the debate over the fate of NAFTA seem eager to put everything behind them and ratify USMCA as quickly as possible. We think it is worth discussing and debating what’s in USMCA first.
The U.S. Trade Representative’s Office released a “fact sheet” about the new U.S. — China trade deal. A full analysis will have to wait until the text is released in January, but some comments on the details are provided here.
President Trump famously called the North American Free Trade Agreement “the worst trade deal ever made.” Bygones. The need to debate that claim has been mooted by the fact that NAFTA’s likely successor—the United States‐Mexico‐Canada Agreement—now holds that distinction.
Featuring the author Weihuan Zhou, Senior lecturer and member of the Herbert Smith Freehills China International Business and Economic Law Centre, University of New South Wales; with comments by James Bacchus, Former WTO Appellate Body Jurist and former U.S. Congressman; Adjunct Scholar, Cato Institute; moderated by Simon Lester, Associate Director, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute.
Are the current terms of China’s WTO participation “fair”? What changes, if any, need to be made? Are there WTO rules that can be used to bring cases against China, but have been overlooked? What is the best way for the U.S. government to address China’s state intervention in its economy? How do the efforts of past administrations compare to those of the Trump administration? What should the next administration do?