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How to Improve NAFTA

Carlos Heredia

Project Syndicate

As US President Donald Trump promised, renegotiation of the North American Free Trade Agreement (NAFTA) has commenced. The initial talks are already sending a clear message: the disagreements to be resolved by Canada, Mexico, and the United States are fundamentally political, not economic, and they are as pronounced within each country as they are between them.

Contrary to popular belief, the true global trade dilemma of our time is not so much liberalization versus protectionism, but the rights of capital versus the rights of people. In recent years, trade pacts have exacerbated imbalances on that front, by failing to deliver benefits for the many, rather than for a relatively few powerful corporations.

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