The Trump administration and Mexico have reached a preliminary decision to end the North American Free Trade Agreement (NAFTA), and replace it with a deal that could be more beneficial to the U.S.
Some local economic experts say the new trade deal may be good news for not just the country, but the borderland.
UTEP economics professor Tom Fullerton says consumers were the ones who benefited the most from NAFTA.
Since the agreement was first adopted, shoppers can walk into El Paso stores to find products manufactured in Mexico at low prices — without having to cross the border. Mexican residents are also able to more conveniently buy American goods.
Fullerton says the deal means plans can move forward in our region, and may lead to new construction activity and higher payrolls.
“This agreement is good news,” Fullerton tells KTSM. “It resolves a lot of the uncertainty that had affected the region from January 2017 forward. As a consequence from the announcement today, a lot of investment plans that had been put on hold should be green lighted.”
Watch the clip above to see how Borderplex Alliance CEO Jon Barela the deal will affect the local community.