NAFTA Withdrawal Likely to Boost Stock Market

By Michael Stumo

Withdrawal from the North American Free Trade Agreement (NAFTA) is likely to boost stock prices, employment and economic growth. Republican Senators told the White House earlier this week that NAFTA withdrawal will harm the stock market. But that claim is based on outdated, incorrect views on trade and investment. America’s economy and wages grew faster before the modern trade agreement era. But our manufacturing members saw substantial growth last year in part because of trade agreement uncertainty and a new focus from business on finding sources of supply within the U.S. The new approach is raising production and employment at U.S. manufacturers. Their biggest problem now has become finding skilled workers to meet new demand. [more...]