EVANSTON, Ill. --- Philip I. Levy teaches international business strategy at Northwestern University’s Kellogg School of Management. Previously, he was a senior economist for trade for President George W. Bush’s Council of Economic Advisers. His research focusses on the political economy of trade agreements as well as U.S. economic relations with China. He can be reached at [email protected].
Quote from Professor Levy
“The NAFTA renegotiation process offers an opportunity to update an agreement that is now more than 20 years old. That agreement has been a success for the United States, Canada and Mexico. It has allowed for burgeoning trade and tight integration of key industries, such as the automotive sector.
“Going forward, there is going to be serious tension between the United States’ desire to push for dramatic change in the agreement and all three countries’ desire to reach a quick conclusion.”
Russell Walker is a clinical professor of managerial economics and decision sciences at the Kellogg School of Management. His expertise ranges from risk management, Big Data and analytics to international business strategy. He frequently speaks on the emerging global middle class and demographic shifts driving changes in international markets. He can be reached at [email protected].
Quote from Professor Walker
“The renegotiation of NAFTA will ultimately focus on high-value manufacturing. The globalization of automobile production, whereby parts might come from Asia and are used in assembly in Mexico, will be examined. The renegotiation will need to provide an outcome that works for all parties. These include consumers who want lower priced goods, producers that want access to low-cost labor and U.S. labor groups that aspire to control job loss to our neighbors. Expect compromises and rules on labor protection from all countries. The end result will also provide a framework for how developed countries reconcile the aspiration of open markets with job protection.”