Rather than a win-win-win, the new North American free trade agreement might be a win-win-loss. Or just an ugly tie, depending how finely you parse new research by three economists in the Western Hemisphere division of the International Monetary Fund (IMF).
Their working paper is the first noteworthy attempt to score the United States-Mexico-Canada Agreement (USMCA). They find that Canada and Mexico come out ahead, although not by a lot. Americans would be worse off, mostly because new provisions would make automobiles more expensive.
But the gains and losses are small enough that many will continue to wonder whether more than a year of torturous negotiations accomplished anything.
Continue reading at the Centre for International Governance Innovation ...