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Trump Administration Latest Act Will Impact Everyone’s Lives In A Big Way

Throughout his campaign, President Trump has promised economic reform. He frequently mentioned the North American Free Trade Agreement (NAFTA) specifically, calling it 'the worst trade deal maybe ever signed anywhere, but certainly ever signed in this country.' A new study shows that withdrawing from NAFTA could be costly for Americans.

According to the Center for Automotive Research (CAR), a non-profit organization in Michigan, withdrawing from NAFTA may result in a sharp spike in the cost of vehicles and parts. The U.S. automobile market, CAR warns, would not only shrink, but result in a record loss of auto manufacturing jobs.

“Any move by the United States to withdraw from NAFTA or to otherwise restrict automotive vehicle, parts and components trade within North America will result in higher costs to producers, lower returns for investors, fewer choices for consumers and a less competitive U.S. automotive and supplier industry,” said the authors of a CAR report funded by the Alliance of Automobile Manufacturers.

The research was based on the president simply withdrawing from the NAFTA deal. For now, the president has expressed interest in keeping NAFTA, but he seeks to renegotiate it.

Source: Auto News
Photo: Gage Skidmore/Flickr

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