Mexico prevented a worse trade deal with US, but American firms will still benefit – journalist to Max Keiser

The recently signed United States-Mexico-Canada Agreement (USMCA) to replace the old NAFTA deal privileges the American economy and corporations, professor and journalist John Ackerman has told RT’s Keiser Report.

The new agreement is apparently not much better than NAFTA, which gave an advantage to transnational corporations to “exploit” different countries, professor at the National University of Mexico John Ackerman believes. He noted that throughout its existence NAFTA managed to interlink US and Mexican economies, but surely in a “subordinate way” for the latter.

“Basically in the negotiations the Mexican government stopped [US President Donald] Trump from turning it into a worse agreement for Mexico. It still, from my personal point of view, continues to privilege the United States corporations and economy over Mexico, big corporations over the working class,” Ackerman said.

He added that the deal, however, had a positive “side effect” for Mexico, as the working class could benefit from a new labor legislation that paved the way for “free and fair elections” within unions in the country.

For more stories on economy & finance visit RT's business section