11-03-2017 (Photo: File:Bill Clinton signing Nafta.png) http://JohnBatchelorShow.com/contact http://JohnBatchelorShow.com/schedules Twitter: @BatchelorShow

NAFTA isn't broken. @RichardAEpstein @HooverInst

The North America Free Trade Agreement among Canada, Mexico, and the United States was put into place in November 1993. A sweeping agreement that lifted major trade barriers among these three nations, NAFTA had its share of problems when it was implemented, including the dislocation of some workers. But the mutual gains from free trade dwarfed any losses associated with the agreement. Now, over twenty years later, NAFTA needs to be updated to take into account new technologies, such as those associated with the digital economy. As the agreement gets renegotiated, all three parties should make as few changes as possible to bring the agreement up to date without altering its fundamental structure. But that might not happen. Each of the three signatory nations has adopted a tough bargaining position that could result in a breakdown of the treaty, which would be the greatest trade disaster in recent years.

http://www.hoover.org/research/looming-nafta-disaster