The report was released as President Donald Trump's administration instead unveiled rosy projections.
Mexico’s President Enrique Pena Nieto US President Donald Trump and Canadian Prime Minister Justin Trudeau, are pictured in November 2018 after signing a new free trade agreement in Buenos Aires.
The report was released as President Donald Trump’s administration instead unveiled rosy projections that the new trade deal would actually cause a boom in auto sector investment, generating tens of billions in new investments and more than 70,000 new jobs. Under the model used by the US ITC, total US GDP will increase under the agreement by just 0.35%, or around US$68 billion, and the US will gain 176,000 new jobs compared to a scenario in which the current North American trade agreement remains in place, the report said.
Automakers would likely cease offering some vehicles as they become more expensive to produce, “which would ultimately decrease consumer choice.”
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