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Not by much, US exports to Canada and Mexico total over 600 billion dollars. That's a lot of US jobs. I seriously doubt the US Congress would let Trump walk out on NAFTA. There is far too much at stake for all concerned, not just jobs but America creditably around the world.That depends on what you call overnight. From his 100 day action plan:Trump will not end NAFTA unilaterally or overnight.
FIRST, I will announce my intention to renegotiate NAFTA or withdraw from the deal under Article 2205. ★ SECOND, I will announce our withdrawal from the Trans-Pacific Partnership. ★ THIRD, I will direct the Secretary of the Treasury to label China a currency manipulator.
I think he will add to his plan; deal with the resulting financial crisis.
https://assets.donaldjtrump.com/_landings/contract/O-TRU-102316-Contractv02.pdf
Negotiation is not pretty. Canada and especially Mexico need the deal more than we do.
Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
I recently visited a manufacturing plant in Washington that processed potatoes, producing several products. At it's height back in the early 70's, there were 420 workers, at or near minimum wage with limited skills. Today the plant runs with 28 workers making well above minimum wage and half would be regarded as skilled workers.
Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
I recently visited a manufacturing plant in Washington that processed potatoes, producing several products. At it's height back in the early 70's, there were 420 workers, at or near minimum wage with limited skills. Today the plant runs with 28 workers making well above minimum wage and half would be regarded as skilled workers.
Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
I recently visited a manufacturing plant in Washington that processed potatoes, producing several products. At it's height back in the early 70's, there were 420 workers, at or near minimum wage with limited skills. Today the plant runs with 28 workers making well above minimum wage and half would be regarded as skilled workers.
Yes, they are different but the fact is new trade treaties are not going to bring those jobs back because in the US they would be done through automation. That was not the case 10 or 20 years. ago. when so many jobs were going abroad. The only way to bring back those low skill jobs is lowering wages so they would be cheaper than automation and that's not going happen.Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
I recently visited a manufacturing plant in Washington that processed potatoes, producing several products. At it's height back in the early 70's, there were 420 workers, at or near minimum wage with limited skills. Today the plant runs with 28 workers making well above minimum wage and half would be regarded as skilled workers.Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
I recently visited a manufacturing plant in Washington that processed potatoes, producing several products. At it's height back in the early 70's, there were 420 workers, at or near minimum wage with limited skills. Today the plant runs with 28 workers making well above minimum wage and half would be regarded as skilled workers.Regardless of the trade treaties, the jobs aren't coming back. In recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a growing numbers of of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago. Not only are there far less workers, but they are higher skilled often with college degrees.Fallacy of composition. those who make less than $100,000/year have done worse with the trade deal or so says income distribution data. Causality in the form of internal mismanagement of the economy is possible but that too casts doubt on the econometric models that were used to make the deal.
I recently visited a manufacturing plant in Washington that processed potatoes, producing several products. At it's height back in the early 70's, there were 420 workers, at or near minimum wage with limited skills. Today the plant runs with 28 workers making well above minimum wage and half would be regarded as skilled workers.
That is demonstratively true but irrelevant automation and job export are different things
I can't discuss the issue of regulations causing outsourcing because I don't know enough about it to discuss it.It's not just low skill jobs that are leaving in fact I would argue that excessive regulation is the main driver of outsourcing. Canada for example is losing jobs to the US and it ain't due to wages. Regulatory drag from trade pacts offsets the gains from comparative advantage pretty much worldwide or at least so believe increasing numbers of voters worldwide.
