As USMCA Replaces NAFTA, Who Will Be the Winners and Losers Among Small Businesses?
smallbiztrends | November 20, 2018
The dust has started to settle on the new United States Mexico Canada Agreement (USMCA) trade deal between Canada, the United States and Mexico. Although it still needs to be ratified, there are some clear winners and losers as far as American small business goes. Small Business Trends did some research and reached out to some experts to get their opinion of the new arrangement. David Reischer is the CEO and Founder at LegalAdvice.com in NYC. He says there’s a good and bad side to the deal as far as American small businesses are concerned in relation to places like Canada, Asia in general and China in particular. “It appears from a preliminary analysis of the USMCA that the deal is a good first step to solidifying our relationship with our northern and southern neighbors,” he writes in an email. “Consumers and businesses that have benefited from low cost China finished goods are the losers of the USMCA.”