Speaking to Newsmax TV on Wednesday, former Trump economic adviser Stephen Moore hailed the president’s new U.S.-Mexico-Canada trade pact as Mexican President Andrés Manuel López Obrador and Trump celebrated the launch of the agreement Wednesday in a ceremony at the White House.
The USMCA deal, a replacement for the North American Free Trade Agreement, took effect on July 1.
“This is the art of the deal,” Moore said during an appearance on Newsmax TV’s “Greg Kelly Reports.”
“This unifies North America so that we have a trading zone that can compete with Europe and Asia and I believe we can outcompete them. … We can be the financial capital, the energy capital and the manufacturing capital of the world.”
According to the independent U.S. International Trade Commission, the USMCA would raise U.S. GDP by $68.2 billion, or 0.35 percent, by the sixth year. It would also create 176,000 U.S. jobs by that same time frame, the ITC found.
The agreement aims to have more cars produced in the United States, where workers earn an average of at least $16 an hour. It also secured changes that require Mexico to change its laws to make it easier for workers to form independent unions, which should improve worker conditions and wages and reduce the incentive for U.S. companies to relocate their plants.
“It’s quite an achievement for Donald Trump. I was nervous about this, I didn’t think he would be able to get this trade deal done but he has,” Moore added.
“This is an enormous achievement.
Information from the Associated Press was used in this report.
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