Tuesday, April 22, 2008

NAFTA The Solution Not The Problem

Engler, the former Michigan governor, says that NAFTA is the solution, not the problem. Had the US applied NAFTA to the rest of its trade, our imbalance would have dropped from $155 billion since 2000 to a mere $25 billion.

Ed Morrisey at Hot Air notes John Engler's WSJ report Monday. The bottom line on NAFTA; basically we increased imports of oil from Canada and Mexico, that accounts for the majority of our trade imbalance with them. However at the same time we increased our trade deficit with Europe ten times that of NAFTA nations and even more with China.

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