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<h2 style="margin:0in;margin-bottom:.0001pt;line-height:37.5pt;background:white;vertical-align:baseline">
<span style="font-size:37.0pt;color:#23408F">NAFTA Withdrawal Likely to Boost the Stock Market<o:p></o:p></span></h2>
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<p class="MsoNormal" style="background:white;vertical-align:baseline"><span class="singleblog-date"><b><span style="font-family:inherit;color:#363636;border:none windowtext 1.0pt;padding:0in">January 05, 2018</span></b></span><span style="font-family:"Open Sans","serif";color:#363636"><o:p></o:p></span></p>
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<span class="s1"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in">Washington ~ The Coalition for a Prosperous America said today that withdrawal from the North American Free Trade Agreement (NAFTA)
is likely to boost stock prices, employment and economic growth.<o:p></o:p></span></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline">
<span style="font-family:"Trebuchet MS","sans-serif";color:#363636"><o:p> </o:p></span></p>
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<span class="s1"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in"><a href="https://insidetrade.com/daily-news/republican-senators-tell-trump-nafta-mistakes-will-jeopardize-stock-market-gains?s=em"><span style="color:#23408F">Republican
Senators told the White House</span></a></span></span><span class="s2"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in"> (subscription required to view link) earlier this week that NAFTA withdrawal
will harm the stock market. CPA says that claim is based on outdated, incorrect views on trade and investment.</span></span><span style="font-family:"Trebuchet MS","sans-serif";color:#363636"><o:p></o:p></span></p>
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<span class="s2"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in">“America’s economy and wages grew faster before the modern trade agreement era. But our manufacturing members saw substantial growth
last year in part because of trade agreement uncertainty and a new focus from business on finding sources of supply within the US,” said Michael Stumo, CEO of CPA. “The new approach is raising production and employment at US manufacturers. Their biggest problem
now has become finding skilled workers to meet new demand.”</span></span><span style="font-family:"Trebuchet MS","sans-serif";color:#363636"><o:p></o:p></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline;box-sizing: border-box;outline: 0px;font-weight:inherit;font-style:inherit">
<span class="s2"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in"><o:p> </o:p></span></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline">
<span class="s2"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in">Trade uncertainty is good for manufacturers and jobs in the industrial heartland because investment in, and procurement from, US suppliers
is a better business bet. Toyota and Mazda, for example, are <a href="http://www.detroitnews.com/story/business/autos/foreign/2017/11/07/toyota-cuts-production-costs-record-research-budget/107431598/"><span class="s1"><span style="color:#23408F">jointly investing
in a new US plant</span></span></a>, while reducing the size of a Mexican factory, because access to the US consumer market will be unaffected in the event of a NAFTA withdrawal by the Trump administration.</span></span><span style="font-family:"Trebuchet MS","sans-serif";color:#363636"><o:p></o:p></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline;box-sizing: border-box;outline: 0px;font-weight:inherit;font-style:inherit">
<span class="s2"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in"><o:p> </o:p></span></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline">
<span class="s2"><span style="font-family:"Trebuchet MS","sans-serif";color:#363636;border:none windowtext 1.0pt;padding:0in">“Reducing the trade deficit with Mexico will boost the US economy and improve job creation because more products will be made in the
US,” said Jeff Ferry, CPA Research Director. “That improvement will benefit US corporate profits and the stock market, not harm them. The biggest problem currently faced by the US economy is that too much demand from US consumers leaks overseas to create jobs
in other countries rather than here.”</span></span><span style="font-family:"Trebuchet MS","sans-serif";color:#363636"><o:p></o:p></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline;box-sizing: border-box;outline: 0px;font-weight:inherit;font-style:inherit">
<span style="font-family:"Trebuchet MS","sans-serif";color:#363636"><o:p> </o:p></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline">
<span style="font-family:"Trebuchet MS","sans-serif";color:#363636">"We at CPA have seen no credible research showing harm from NAFTA withdrawal," continued Stumo. "Even Goldman Sachs found, <a href="https://www.zerohedge.com/news/2017-10-20/goldman-expects-trump-withdraw-nafta-congress-readies-fight" target="_blank"><span style="color:#23408F;border:none windowtext 1.0pt;padding:0in">in
a recent report</span></a>, that NAFTA withdrawal would not negatively impact the US economy. We are in a global competition for good jobs and innovation. It is not in our national interest to create investment certainty in other countries."<o:p></o:p></span></p>
<p class="p1" style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline;box-sizing: border-box;outline: 0px;font-weight:inherit;font-style:inherit">
<em><span style="font-family:inherit;color:#363636;border:none windowtext 1.0pt;padding:0in"><o:p> </o:p></span></em></p>
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<em><span style="font-family:inherit;color:#363636;border:none windowtext 1.0pt;padding:0in">About CPA: The Coalition for a Prosperous America is the nation’s premier organization working on the intersection of trade, jobs, tax, and economic growth. We represent
the interests of 4.1 million households through our agricultural, manufacturing, and labor members.</span></em><span style="font-family:inherit;color:#363636"><o:p></o:p></span></p>
<p style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline;box-sizing: border-box;outline: 0px;font-weight:inherit;font-style:inherit">
<span class="s1"><i><span style="font-family:inherit;color:#363636;border:none windowtext 1.0pt;padding:0in"><o:p> </o:p></span></i></span></p>
<p style="margin:0in;margin-bottom:.0001pt;background:white;vertical-align:baseline">
<span class="s1"><i><span style="font-family:inherit;color:#363636;border:none windowtext 1.0pt;padding:0in">Contact Media Director</span></i></span><i><span style="font-family:inherit;color:#363636;border:none windowtext 1.0pt;padding:0in"><br>
<span class="s1">Paola Masman: <a href="mailto:paola@prosperousamerica.org"><span class="s2"><span style="color:#23408F">paola@prosperousamerica.org</span></span></a></span></span></i><span style="font-family:inherit;color:#363636"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Bell MT","serif"">Michael F. Dolan, J.D.<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Bell MT","serif"">Legislative Representative<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Bell MT","serif"">International Brotherhood of Teamsters<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Bell MT","serif"">Desk 202.624.6891<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Bell MT","serif"">Fax 202.624.8973<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Bell MT","serif"">Cell 202.437.2254<o:p></o:p></span></p>
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