Bloomberg Talks Rep. French Hill Talks Renegotiating USMCA, Limiting Inputs
Mar 28, 2025
French Hill, House Financial Services Committee Chairman and Republican Representative from Arkansas, dives into the urgent need to renegotiate the USMCA to limit imports from China. He explores how strategic changes can bolster American manufacturing while addressing tariff impacts on local economies. Hill also discusses the complex interplay of trade diplomacy, budget cuts, and healthcare funding, emphasizing the importance of bipartisan cooperation for the economy. His insights shed light on how government policies affect families and businesses across the nation.
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Renegotiating USMCA
- Rep. Hill's constituents in Arkansas, where 30% of output goes to Canada or Mexico, want certainty regarding tariffs.
- He suggests renegotiating USMCA to limit Chinese inputs and increase American-made content.
Trade Diplomacy and USMCA
- Address Chinese dumping through transshipment via trade agreements within USMCA.
- Mexico should handle this in their trade policy regarding inputs.
Tariff Strategy Concerns
- Rep. Hill expresses concern about costs passed onto consumers without a clear tariff strategy.
- He advocates for targeted trade diplomacy and reciprocity like during the Bush administration.