We've been talking a lot about NAFTA this week, but let's get down to brass tacks: What did the North American Free Trade Agreement do? President Donald Trump (not to mention Sen. Bernie Sanders) made NAFTA as a favorite target during the presidential campaign. They'll both tell you it was a “disaster” for the U.S. economy, that it cost the United States hundreds of thousands of jobs. The reality is not nearly as dramatic or tidy a story. Then, we'll look at how negotiating NAFTA could affect your happy hour. Plus, the latest on Sears' financial woes and more from our series in Erie, Pennsylvania.
It's NAFTA week here, so today we're heading to the Midwest. The trade deal opened up the Mexican market to American farmers, who enjoyed billions in exports. But Mexican farmers couldn't compete, and many of them immigrated to the U.S. illegally after going out of business. Then: We'll talk with the American and Canadian architects of NAFTA about how they negotiated the agreement in the first place. Plus, we'll unpack the latest travel restriction's impact on business travelers and look ahead to the House's big health care vote.
We're kicking off a new series today, explaining the North American Free Trade Agreement and what could happen if President Donald Trump renegotiates it. To start off, we have to talk about your pants. Where they were made and what you paid for them are essential to understanding how NAFTA works. Then, we'll talk with Jaime Serra, one of the agreement's architects in Mexico. Plus, the latest on Brexit negotiations and Uber's scandal-filled year.
German Chancellor Angela Merkel spent a few hours at the White House today for her first face-to-face meeting with President Donald Trump. Things were a little frosty, and Trump made his thoughts on the trading realationship between the U.S. and Germany. Merkel surly knew this was coming, as she arrived in Washington with several execs including the CEO of BMW. We'll look at the negotiation ahead. Then: How much of the U.S. budget is tied up in foreign aid, do you reckon? Most folks' guesses are way, way higher than the reality. Plus, as always, we'll wrap up a busy week in economic news.
The budget plan the White House released today is sort of like an extension of President Donald Trump's tweets: It gives you a sense of his thinking, but it's not the whole plan. It's called a "skinny budget." We'll discuss what that means and what it says. Then, Trump told Fox News' Tucker Carlson that he wants to cut business taxes from 35 percent down to 15 percent. But what businesses actually pay that much, and what would a cut mean for the economy? Plus, a conversation with the CEO of the Uber-for-chores company TaskRabbit and one man's billion-dollar bet against Herbalife stock.
It's official: The Federal Reserve is raising interest rates by a quarter of a percentage point, with two more hikes expected this year. We'll talk through Chair Janet Yellen's announcement. Then: President Donald Trump's plan for a border adjustment tax seems like a straightforward enough way to encourage companies to buy American and hire American, but is it legal? Plus, the view from an Uber-less SXSW and the remarkable success of "Get Out."