There’s been some concern regarding whether or not the United States would remain in the North American Free Trade Agreement (NAFTA). After taking office, President Trump voiced his displeasure for NAFTA, saying it wasn’t a fair deal for the country. Nonetheless, however, a new survey has found that majority of Americans support NAFTA.
Earlier this year, Livingston International and Harris Poll surveyed more than 2,000 Americans ages 18 and older, asking about their views on NAFTA. So, what did they find? Of the 2,000 Americans surveyed, 4% said NAFTA “greatly influenced” the country’s economic growth over the past two decades, and 57% said pulling out from NAFTA would result in higher costs for consumer goods.
When speaking about the survey, Daniel McHugh explained that Americans want to see a balanced approach towards NAFTA negotiations. In other words, Americans acknowledge the importance of NAFTA, though they also believe it can be improved through negotiations. Creating a balance between the two is ultimately what’s needed for a more attractive deal that stimulates the U.S. economy.
“[That] recent data suggest Americans hold a measured view of NAFTA and would like to see the government take a balanced and sensible approach in the NAFTA negotiations,” he added. “Americans recognize and understand that NAFTA has resulted in a variety of effects on the U.S. economy, most of which have been positive, and withdrawing from the agreement will likely lead to unwanted and unnecessary economic disruption,” explained Livingston CEO Danial McHugh.
The poll also found that 42% of respondents blame NAFTA for the loss of American manufacturing jobs to overseas companies. But NAFTA isn’t the sole reason for the loss of these jobs. Additionally 56% of Americans blame autonomous systems and robotics for the loss of manufacturing jobs.
As you may already know, NAFTA went into effect on January 1, 1994, superseding the previous Canada-United States Free Trade Agreement. NAFTA focuses on two specific elements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC). While it’s been criticized in recent months, most economic analysts agree that NAFTA is beneficial to both Canada and the U.S. economies. Furthermore, economists have warned that withdrawing from NAFTA could create trade barriers that hurt the country’s economy.
So, what’s next for NAFTA? There’s still word yet on how the new administration will handle NAFTA. It may leave it alone, completely dismantle it, or renegotiate the deal. Either way, this survey reveals that most Americans view NAFTA as being beneficial to our country’s economy.