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martes, 20 de junio de 2017

Extraordinarily foolish" for US to nix NAFTA, says Nobel laureate

Extraordinarily foolish" for US to nix NAFTA, says Nobel laureate
- Nobel Prize winner and renowned economist Joseph Stiglitz said Monday it would be "extraordinarily foolish" for the United States to walk away from or weaken the North American Free Trade Agreement (NAFTA).
Speaking at the 18th World Congress of the International Economic Association in Mexico, Stiglitz, a professor of economics at Columbia University in New York, said the United States should instead try to expand its trade ties with Canada and Mexico, its NAFTA partners.
U.S. President Donald Trump has criticized NAFTA as unfairly benefiting Mexico at the expense of American jobs and industry, and called for a renegotiation of the accord that entered into force in 1994.
Mexico and the United States, which share a 2,000-mile (roughly 3,200-km) border, maintain a natural economic integration largely thanks to NAFTA, which has allowed both sides to thrive, said Stiglitz.
"The interdependence of the United States and Mexico is very good and it would be extraordinarily foolish of the Trump administration to distance itself from NAFTA, to undermine NAFTA," Stiglitz told reporters covering the congress.