Mercatus Center's Christine McDaniel on Phase-One Deal, USMCA

The transcript discusses the U.S. trade deal with China, highlighting its significance and the administration's success in negotiating it. It covers the potential impact and future phases of the deal, noting bipartisan support and the business community's mixed reactions. The discussion also touches on NAFTA 2.0, political dynamics, and the economic implications, particularly the digital trade chapter, which is seen as a positive development.

What is a notable feature of the U.S.-China trade deal discussed in the first section?

• It was signed by the previous administration.

• It includes a clause for tariffs to snap back if China does not comply.

• It eliminates all tariffs between the U.S. and China.

• It was negotiated within the WTO framework.

How has U.S. trade policy changed under President Trump according to the second section?

• It has shifted towards more managed trade.

• It has become more aligned with the WTO.

• It has focused on reducing tariffs globally.

• It has remained consistent with previous administrations.

What is the general sentiment of the business community towards the tariffs?

• They are universally opposed to the tariffs.

• They are indifferent to the tariffs.

• They are supportive despite some negative impacts.

• They are unaware of the tariffs.

What is surprising about the support for the USMCA trade deal?

• It was opposed by labor unions.

• It received broad bipartisan support.

• It was identical to the Trans-Pacific Partnership.

• It was only supported by Republicans.

How did labor unions react to the new NAFTA trade deal?

• They opposed it completely.

• They took credit for its provisions.

• They were indifferent to it.

• They were unaware of its existence.

What is a highlighted positive aspect of the USMCA in the final section?

• The digital trade chapter.

• The alignment with the Trans-Pacific Partnership.

• The elimination of all trade restrictions.

• The reduction of tariffs on autos.

What potential impact does the USMCA have on the U.S. economy?

• It is expected to have a small negative impact.

• It is expected to have a large positive impact.

• It is expected to have a large negative impact.

• It is expected to have no impact.