The Potential Impact of the USMCA on US Manufacturing Jobs
Objective
Students will be able to:
- Identify potential costs and benefits of the USMCA Trade Agreement.
Standard
Standard: 7
- Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
- Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.
Standard: 5
- Students will understand that: Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations.
- Students will be able to use this knowledge to: Negotiate exchanges and identify the gains to themselves and others. Compare the benefits and costs of policies that alter trade barriers between nations, such as tariffs and quotas.
In this economics activity, students assess the potential effect of USMCA on US manufacturing jobs.
Resources
Procedure
This is an individual activity allowing students to examine the potential impact of the USMCA Trade Agreement on employment in the United States by watching the USMCA Vs NAFTA, Explained with A Toy Car. While USMCA is marketed as a “solution” to the reduction in jobs in the US manufacturing sector, it may or may not live up to that expectation. This video focuses on one of the main targets of the agreement – the auto industry – to explain its potential costs and benefits. Students will respond to the corresponding questions with either the Quizizz or the ReadyAssessments Activity.
To complete this activity, students need to follow the instructions below:
- Watch the video USMCA Vs NAFTA, Explained with A Toy Car
- After watching the video respond to the quizizz or complete the ReadyAssessments Activity.
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