Butzel Long attorney Kate Karol quoted in Crain's Detroit Business: New Trade Deal Unlikely to Boost Automotive Production
Experts: New trade deal unlikely to boost automotive production, jobs in U.S.
Overseas firms may find it easier to pay up for not meeting standards or stop serving U.S. market
Only three vehicles imported to the U.S. are between old and new content requirement
Math also unlikely to add up to force increase in wages
White House officials are calling the new North America trade deal, the U.S.-Mexico-Canada Agreement, a paradigm-shifting model for American trade policy.
Speaking about the deal last week in Washington, D.C., President Donald Trump said foreign companies should consider it "a privilege to do business with us." The administration considers the trade deal, which includes stricter automotive import requirements, a huge win in steering manufacturing back into the U.S.
But some experts question whether the updates and a name change to the original North American Free Trade Agreement will result in increased production in the U.S. and jobs creation.