The Trump administration has launched NAFTA renegotiations, but the United States needs to use caution says Tomas Hult, director of Michigan State University’s International Business Center.
“Trade agreements, when the U.S. is not involved, create barriers and constraints that have an effect on market opportunities and profits of U.S. companies,” Hult said. “It is common to see tariffs that are five times higher in foreign markets than the U.S. average, and we need to be careful in getting out of NAFTA or negotiating the three-country agreement to ensure that U.S. companies stay the most competitive globally.”
Hult is is Byington Endowed Chair in the Eli Broad College of Business at MSU. He can discuss implications of NAFTA, international trade and the value of trade agreements.
Hult may be reached at (517) 353-4336 or Hult@bus.msu.edu.