New North American Trade Deal Reached

[Canadian Visitor]

NAFTA changes names to the USMCA, United States, Mexico, Canada Agreement.

The full text is here:

https://ustr.gov/trade-agreements/fr...-states-mexico

Trump has endorsed it already.

For the Canada-US portion there are relatively few changes from NAFTA.

The main talking points would be a slight opening of Canada's dairy market, in exchange for which the US will crack open its sugar market.

There's some new language on genetically modified foods and the like and a few other 'modernizations'.

The bigger changes are on the Mexico side, and include a variety of changes to empower Unions [[make sure they aren't just corporate puppets) and specific provisions raising the minimum of wage of Mexican auto workers.

The rest I will leave for you all to peruse at the above link, happy reading.

[Malcove Magnesia]

Trump endorses it, therefore I hate it.

[canuck]

Trump endorses it, therefore I hate it.

Give it to Mikey, he hates everything...


https://m.youtube.com/watch?v=34wJt3pRY0w

[Bham1982]

Trump endorses it, therefore I hate it.

It's basically the same thing as NAFTA.

There are no substantive changes, so regular, informed folks are happy, and the Trump cultists are happy, because they're undoubtedly being told by their "alternative reality sources" that it's a "big win" against globalism and the evil foreigners stealing our jobs.

[313WX]

The main two changes that *MAY* benefit US workers, to one extent or another, is the minimum wage of workers in Mexico being raised to $16/hr and the requirement that a higher percentage of the material used in to manufacture goods in Mexico comes from the US.

That said, these are such incremental changes. They're certainly not the sweeping changes some folks [[on both sides of the aisle) were hyping up.

[EastsideAl]

It's basically the same thing as NAFTA.

There are no substantive changes, so regular, informed folks are happy, and the Trump cultists are happy, because they're undoubtedly being told by their "alternative reality sources" that it's a "big win" against globalism and the evil foreigners stealing our jobs.

They succeeded in annoying, insulting and alienating our longtime closest ally, Canada, I guess to try to look for the backwater crowd like they were rilin' up them furrners, only to end up after needless months of pointless drama almost exactly right back where we started.

[Johnnny5]

I'll have to read more about the final results, but IMO the Canada/U.S issues were far less of an issue than those between Mexico and the U.S. [[Few if any American companies have been closing American factories and moving production to Canada.)

The only way I'll see this renewed trade agreement as a success is if has reduced/eliminated many of the financial incentives for American companies to move production South of the border. If it hasn't, then while it may be an improvement IMO it would still be a failure.

[Bham1982]

I'll have to read more about the final results, but IMO the Canada/U.S issues were far less of an issue than those between Mexico and the U.S. [[Few if any American companies have been closing American factories and moving production to Canada.)

The Mexican portion of NAFTA hasn't really changed either. It's all an idiotic show for his cult.

And the few changes actually make the U.S. poorer and less competitive:
https://www.economist.com/leaders/20...ke-nafta-worse

NAFTA: "worst trade deal ever" per Trump

NAFTA 2.0 "greatest trade deal ever" per Trump

[Canadian Visitor]

A couple of further notes on NAFTA 2.0

The ISDS is being phased out between Canada and the US.

But retained and modified for US-Mexico.

[[ISDS) is the clause that allowed companies to sue foreign governments.

***

Also of note, the proportionality clause is gone. This is the clause that essentially guaranteed a portion of Canada's energy exports to the US.

The removal of the clause is unlikely to have a material impact, it simply removes a quota.

***

Patent periods of biologic drugs will be rising to 10 years. This will affect drug prices adversely in all countries.

[313WX]

It's sad how unreadable these threads can become because of a couple poor posts from the same suspects.

[Ray1936]

We get three hockey players in exchange for two teams of soccer players.

[Jimaz]

So when can we expect the maquiladoras to start pulling up stakes?

Or is this all window dressing?

[Gistok]

Patent periods of biologic drugs will be rising to 10 years. This will affect drug prices adversely in all countries.

They should have allowed generic Viagra into the USA!!

[Canadian Visitor]

So when can we expect the maquiladoras to start pulling up stakes?

Or is this all window dressing?

There is some substance in the agreement.

However, from your POV mostly window dressing.

I don't see any of changes leading to large scale repatriation of jobs from Mexico to the US.

What I do see is some changes that will slow the bleeding in select sectors [[mainly auto parts) and some other changes that may increase US exports somewhat.

But taken as a whole this is not radical change.

[401don]

They should have allowed generic Viagra into the USA!!

Don't tell us your problems. But seriously, this will mean billions for big pharma companies. When the patent expired on my Crestor cholesterol drug a couple of years ago the price dropped by about 75%.

[Bham1982]

So when can we expect the maquiladoras to start pulling up stakes?

Or is this all window dressing?

Window dressing. Everyone is happy.

The minimum income requirements only apply to half of employees so no U.S. employer has to move a single job out of Mexico [[not that Americans are exactly lining up to work dangerous, low-pay jobs).

As someone whose better half has a job dependent on NAFTA, I'm very happy.

[Richard]

I guess the easiest thing to post is,Trump signed it so it is window dressing,but then again I have not spent hours researching the amendments to both the 1930s agreement and the NAFTA agreement where it applies to both Canada and Mexico and compare the differences.

Quick glance tells me that has to be a good 8 hours of research in order to form an opinion.

I will take the easy road and post the current president signed it so it must be good.

[Cincinnati_Kid]

I will take the easy road and post the current president signed it so it must be good.

That's not necessarily true. Just like he signed that deal with Kim Jung-un that we know nothing about. Jung-un is still building rockets, so what's the point?

[Meddle]

I will take the easy road and post the current president signed it so it must be good ...

... for the bottom lines of his companies and corporations, whether or not it helps anyone else.

[401don]

I will take the easy road and post the current president signed it so it must be good.

Of course the odds that he actually read all or any portion of it [[even during a Fox News commercial break) are next to none.

[Richard]

... for the bottom lines of his companies and corporations, whether or not it helps anyone else.

Thats assuming his companies and corporations are islands among themselves.

What does he do that you cannot and that millions of others have to opportunity to do also?

[oladub]

Under the new trade agreement, online Canadians will be able to import $150 of U.S. or Mexican goods tariff free, up from the present $20. The Senate has to pass this with a 2/3 majority for the 'deal' to become a treaty.

https://globalnews.ca/news/4503461/c...e-limit-usmca/