LAS VEGAS–(BUSINESS WIRE)–Michael Shustek, a leading real estate investment company executive, sees this week’s United States-Mexico-Canada Agreement (USMCA) as a modernization of business practices that will result in immediate benefits providing a ripple effect for U.S. residents.
“For our country, the USMCA deal should provide increased production, better employee wages and combined with real estate activities, consumers win big,” said Shustek, CEO of The Parking REIT. “An important factor that shouldn’t be overlooked is consumer confidence associated with these positive trade agreements.
“Homeowners are now motivated to make improvements with their residences and small business owners will now be inspired to engage in lease renewals. Overall, this is great for consumers and anyone investing in real estate.”
The benefits to the American economy could include higher wages and new home buyers, according to Shustek.
“In simple terms, the USMCA eliminates unfair trade practices and is very good for our country’s workforce,” he says. “This will lead to more consumer spending, including purchase of real estate with new home buyers. Hopefully this new deal will receive congressional approval sometime in January and could take effect the second half of 2019.”
As an author and thought leader, Shustek, who follows international business investing closely, believes additional countries will be next with what he calls “more modernizations.”
“With the USMCA in place, our country is now in a better position to achieve additional modifications with several countries, especially the European Union,” Shustek said. “It is plausible that new trade deals could follow with China, Japan and Brazil. This USMCA agreement sends a positive message that our country is open to talks and reaching additional trade deals.
“Although there are some naysayers who may express that USMCA isn’t perfect, it is my opinion that it is a step in the right direction.”