Business Roundtable: New study: Withdrawing from NAFTA would hurt Wisconsin workers and businesses
CONTACT: Rayna V Farrell
Wisconsin — A new 50-state economic analysis prepared for Business Roundtable reveals terminating the North American Free Trade Agreement (NAFTA) and re-imposing tariffs on exports and imports eliminated by the agreement would result in a net loss of 1.8 million American jobs. The study – prepared by Trade Partnership Worldwide, LLC – shows that in Wisconsin alone, scrapping NAFTA would eliminate 33,986 jobs within a year and limit the competitiveness of small businesses across the state.
The analysis also finds withdrawal from NAFTA would:
Reduce Wisconsin businesses’ exports to Mexico and Canada by more than $1.8 billion, as higher tariffs make Wisconsin companies less competitive.
Lower Wisconsin output by more than $2 billion, limiting future growth.
Shift economic activity away from North America and benefit our economic competitors, increasing GDP and employment in countries like China.
For more information about how NAFTA benefits Wisconsin and the entire country, visit BRT.org/nafta-facts.