NAFTA was certainly not Bill and Hillary's. It was negotiated under both Reagan and H.W.Bush and signed by H.W. Bush at end of his term in 1992. It was ratified with the support of both Republicans and Democrats in 1993 and signed into law by Bill Clinton in 1993. It was widely accepted by Republicans in 1990's but given only lukewarm support by Democrats.It was a one two combination...we had Bill and Hillary's NAFTA, and then they pushed for allowing China into the WTO. And now we have Obama pushing for the passing of the TPP, another Democratic Frankenstein trade deal that would have been the final nail for whatever was left of the US manufacturing industry.Which trade deals? We don't have any trade agreements with China.Come on, you can't tell us that the arrangement the US has in these trade deals, is working for its companies or its workers. Our problems don't begin or end with disastrous trade deals, but they are indeed part of what has to be fixed, and a failed ideology.Thanks to Trump, millions of American have become convinced that America's problems are caused by stupid trade negotiations with China. However, the fact is the United States does not have a trade agreement with China, neither a bilateral or a multilateral deal, much less a good one or a bad one. The two countries trade on simple baseline terms set by the WTO. When Trump says he wants to renegotiate our trade deal with China, he's talking about negotiating something that does not exist.Like I said, non of those countries have the consumer market with the kind of average income that the US has. The entire world wants a piece of the action in the US. Many of the factories in countries like China, Canada and Mexico are set up by American entrepreneurs and companies who have laid off their own employees in return for lower wages,maxes, and regulations offered abroad. So this cooperation with the US has also helped build industries in these countries, who then turn around and compete with the US, by offering these same products and services to other countries. These idiotic one way trade deals are literally allowing countries to rape America.
The US government and Chinese goverment don't do trade deals. Trade deals are done between US importers with Chinese exporters, sometimes producers, sometimes middle men exporters, and sometimes US subsidiaries operating in China. US importers pay a tax of a maximum of 17% depending on the goods. Since the Chinese do have distribution networks in the US, taxes on US imports from China are paid by US companies, not the Chinese producer or the Chinese government.
So what happens when we decide to punish US companies importing from China with a 35% tax? Do they start to buy from the US manufacturers? Only it those manufactures are the cheapest supplier. In most cases they will simply buy from another low cost producer abroad with no or low import tariffs. Large multinational companies with plants around the world with do an inventory swaps and avoid the tariffs completely. The net result is no new jobs produced in the US, just slightly higher prices.
Trump ran on having individual trade deals that could be negotiated to have more favorable terms for the US, and that's what he's planning on carrying out.
Throughout the Bush and most of the Obama administration, Republicans continued to support NAFTA. It wasn't till Trump, that NAFTA became a dirty word. However disregarding all the rhetoric, NAFTA did create more jobs than loses and was responsible for much of the growth in the 1990s.
Where job growth and economic growth in the economy due to NAFTA is hard to measure because it's spread over so many sectors, job loss is easy to measure because it occurred mostly in the manufacturing sector. As far as TPP goes, you might actually read a bit of it instead of just listening to political hacks like Trump who have obviously never even looked at it. The fact that Trump supports the idea of single nation negotiations just shows how far out of touch Trump is. World trade today is biased against single nation agreements.
World Trade is about to change.