President Donald Trump wants to renegotiate or possibly scrap the North American Free Trade Agreement. There were rumors that details of a new deal might be hashed out this weekend in Peru, where the Summit of the Americas is taking place. But the president has already backed out of attending and just yesterday, his top NAFTA negotiator also canceled his plans to attend the summit.
The University of Michigan’s economic forecasting unit has been looking at a couple of scenarios regarding NAFTA and the impact those could have on Michigan’s economy.
Gabriel Ehrlich, director of the Research Seminar in Quantitative Economics at the University of Michigan, joined Stateside to discuss current NAFTA negotiations, President Trump’s impression of NAFTA, and the potential impacts a renegotiated or nonexistent NAFTA would have on Michigan’s economy.