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Trump tariffs threaten to crack open North American economies
President-elect Trump’s pledge to impose tariffs on Mexico and Canada threatens to upend decades of North American integration, a bumpy process that’s recast the two U.S. neighbors as providers of raw and finished goods for the world’s biggest economy. In some ways, Canada and Mexico have traded places over the past three decades.Before the North American Free Trade Agreement (NAFTA), Mexico was a mid-tier petrostate without a competitive industrial base. Now, its economy is dependent mostly on manufacturing, tourism, agricultural exports and cash sent home by Mexicans abroad. Meanwhile, Canada went from a ... (full story)
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