2 options
NAFTA to USMCA: What is Gained? / Mary Burfisher, Frederic Lambert, Troy Matheson.
- Format:
- Book
- Government document
- Author/Creator:
- Burfisher, Mary.
- Series:
- IMF Working Papers; Working Paper ; No. 2019/073
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Foreign trade regulation.
- Physical Description:
- 1 online resource (35 pages) : illustrations.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2019.
- Summary:
- The United States – Mexico – Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, computable-general-equilibrium model to provide an analytical assessment of five key provisions in the new agreement, including tighter rules of origin in the automotive, textiles and apparel sectors, more liberalized agricultural trade, and other trade facilitation measures. The results show that together these provisions would adversely affect trade in the automotive, textiles and apparel sectors, while generating modest aggregate gains in terms of welfare, mostly driven by improved goods market access, with a negligible effect on real GDP. The welfare benefits from USMCA would be greatly enhanced with the elimination of U.S. tariffs on steel and aluminum imports from Canada and Mexico and the elimination of the Canadian and Mexican import surtaxes imposed after the U.S. tariffs were put in place.
- Notes:
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9781498305518
- 1498305512
- 9781498305556
- 1498305555
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.