Sec. Ross Says New Canada Trade Deal Will 'Clear the Air'

The video discusses the impact of a new trade agreement on the US trade deficit with Mexico and Canada, estimating tens of billions of dollars in effect. The importance of finalizing the deal before Mexico's administration change is highlighted. The video also touches on the implications for China, noting that it's too early to engage in negotiations with them, and explains how the new rules of origin affect non-NAFTA regions.

What is the estimated impact of the new trade agreement on the trade deficit between the US, Mexico, and Canada?

• A few million dollars

• Tens of billions of dollars

• Hundreds of billions of dollars

• No significant impact

Why is it important to finalize the trade agreement before the new administration in Mexico takes over?

• To increase trade with Europe

• To avoid changes in the US administration

• To reduce tariffs on Chinese goods

• To ensure it passes through the Mexican Congress

What has been the effect of the pending trade agreement on foreign direct investment in Mexico?

• It has increased significantly

• It has remained stable

• There has been almost no capital expenditure

• It has decreased slightly

How does the new trade agreement affect China's role in the NAFTA region?

• It negatively impacts China's role

• It has no effect on China

• It increases China's influence

• It allows more Chinese parts in NAFTA

What is a significant change in the NAFTA rules of origin under the new agreement?

• Only electronic parts are considered

• Parts can be sourced from any country

• 62.5% of parts must be made within NAFTA

• All parts must be sourced from Europe