NAFTA outdated, needs modernization By Rick Redding “The USMCA takes many important steps to modernize the agreement to reflect today’s global and digital economy.” —Matthew Shay, president and CEO, National Retail Federation “The new pact guarantees that virtually all U.S. exports will enter these markets tariff-free.” —Letter to Congress from
Trade
Phase One signed on Jan. 15
By Rick Redding
In no uncertain terms, American businesses have emphatically made it clear that tariffs are bad for business. But using tariffs is a tactic that President Donald Trump believes will get him what he wants when it comes to trade with China.
There is no more important market for American business than China. Trump announced in December that a tentative deal had been reached with the country and was expected to sign it Jan. 15 (as SSN was going to press).