U.S., Mexico Deal a Step Toward Doing No Harm, Says Holtz-Eakin

The transcript discusses recent trade announcements, focusing on the modernization of NAFTA and the Transpacific Partnership. It highlights changes in the auto industry content rules, increasing the percentage of North American-made parts. The discussion also covers the implications of tariffs and trade barriers, comparing them to China's practices. The future of trade negotiations with Canada and Mexico is explored, emphasizing the importance of a three-way deal over bilateral agreements.

What was the modernized version of NAFTA called when the President took office?

• Comprehensive Economic and Trade Agreement

• North American Free Trade Agreement

• Transpacific Partnership

• Transatlantic Trade and Investment Partnership

What is the new percentage requirement for a car's content to be made in North America?

• 62.5%

• 70%

• 80%

• 75%

How does the change in content calculation affect the perceived increase in North American content?

• It makes the increase appear smaller than it is.

• It doubles the perceived increase.

• It has no effect on the perceived increase.

• It makes the increase appear larger than it is.

Why is it important for Canada to be included in the new trade deal?

• The President has authority to negotiate only a three-way deal.

• Mexico prefers a bilateral deal with the United States.

• Canada is not interested in a bilateral deal.

• Canada has the largest economy in North America.

What authority does the President have regarding trade deals with Mexico and Canada?

• Authority to impose tariffs without negotiation

• Authority to negotiate a three-way deal under NAFTA

• Authority to negotiate bilateral deals with both countries

• Authority to cancel existing trade agreements