With economic protectionism, US will lose

Without NAFTA, American enterprises would commit a sort of Harakiri due to the rising cost of tariffs, taking prompt impact on its economy, says Francisco N. González, CEO of ProMexico.

 Having an economic protectionism, US will become losers in the attempt to eradicate “the worst trade agreement in history” as was described by republican candidate for US presidency, Donald Trump.

As there multiple trade agreements where US businesspersons’ interest are at stake, protectionism movement which is pretend to apply, won´t be strong enough to hold collateral damage, says Eduardo Solís, Executive Chief of Mexican Association of the Automotive Industry (AMIA for its acronym in spanish).

Thanks to NAFTA, Mexican exports since 1994 increased from 60,882 to 380,770 million dollars last year, according to data from INEGI.

Source: http://expansion.mx/empresas/2016/10/25/proteccionismo-el-harakiri-para-las-empresas-en-eu