For those on the left and right who were certain that Donald Trump’s presidency meant the end of global free trade… think again. Though Trump’s critics have dismissed the significance of the new Mexico and Canada trade deal (USMCA), it’s hard to deny it’s a welcome advance for the economy of the entire continent. The pact will extend for years a (mostly) tariff-free North America trade zone. This was Ronald Reagan’s vision nearly four decades ago — and that legacy will now live on for hopefully many years to come.
Here’s just one example of the importance of this agreement. In the area of energy production, the integration of our economies and the freer flow of energy investment capital across our southern and northern borders means more pipelines, more LNG terminals, more oil refineries, and more exploration. North America is now poised to be the new Middle East for energy production for the next fifty years with all the related economic advantages that confers on our region.
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