Harris estimates the change will increase U.S. dairy exports to Canada by $70 million, or 0.0003 percent of GDP, compared to what they would have been under the TPP, from which the U.S. withdrew last year.
The economist also believes the new trade agreement with Mexico and Canada is not a sign the trade conflict with China will improve. “The completion of the NAFTA deal does not alter our view that the US-China trade ‘war’ will get worse before it gets better,” he said.
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