President Trump announces a near-deal with Mexico on trade

Particularly interesting to hear the Mexican president nudging Trump toward understanding how important it is to have Canada as part of this agreement.

Mr. Trump has long labored under the erroneous belief that NAFTA was a bad deal for the United States. It wasn't. 

It's disappointing to see provisions in the details of the automotive section of the proposed agreement which aims to require many Mexican workers to be paid far more than the prevailing wage there which will no doubt raise the price of vehicles for Americans. Requiring higher percentages of vehicles to be made with North American components will have the same effect.

Also, some of the things that conservatives and libertarians have long complained about in trade agreements such as the US trying to get other countries to allow more labor unionization appear to be in the new "US-Mexico Trade Agreement."

That's not to say there's nothing good in the reworked parts of the deal that we know about, such as items dealing with the digital world which didn't exist when NAFTA was written. 

But now the politics get very tricky. Due to the December 1 inauguration of the newly elected president of Mexico and a US requirement of three months notice before Congress can agree to such a treaty, the administration must send a letter to Congress to start the clock by the end of this week. 

But there is almost no way Canada will be ready to agree to anything by the end of this week so most likely this will end up having to run through a minefield of domestic politics in all three countries. 

The Ross Kaminsky Show

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