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Weak NAFTA to cost .12 million jobs, $16 billion

According to a study by AT Kearney, National Retail Federation, the lack of the North American Free Trade Agreement would cost shoppers $16 billion and result in 128,000 retail jobs being lost.

Many Los Angeles brands manufacture their blue jeans in Mexico and rely on duty-free imports to keep costs down.

According to the study, retailers imported $128 billion worth of merchandise from Mexico and $54 billion from Canada in 2017. Their textiles and apparel imports totaled $4.8 billion from Mexico and $1.3 billion from Canada.

If the United States withdrew from NAFTA, the retail imports would be subject to $5.3 billion in annual tariffs that would most likely be passed on to consumers in the form of higher prices.

Food and beverages sold at grocery stores would be the worst affected at $2.7 billion, followed by apparel and footwear at $501 million and household goods at $498 million.

 

 
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