The USMCA Replaces NAFTA: a look at the top stories
The new pan-North American trade agreement has arrived, under it’s new name “U.S.M.C.A” or United States – Mexico – Canada Agreement. We take a look at the headlines from across the spectrum, as well as some interesting op-eds on the subject.
Full Agreement Text
Office of the United States Trade Representative: Full text here
“Unifor national president Jerry Dias says the USMCA is a good deal for Canadian workers. (CBC)”
“Jean Simard, president of the Aluminum Association of Canada, said he was disappointed that the [steel and aluminium] tariffs weren’t addressed in the new deal.”
“The announced concessions on dairy in the new USMCA deal demonstrates once again that the Canadian government is willing to sacrifice our domestic dairy production when it comes time to make a deal,” said DFC President Pierre Lampron in a statement.
CTV: Trudeau, Freeland herald USMCA as trilateral victory
In a statement, Brian Mulroney, the former Canadian prime minister who signed the original NAFTA deal 25 years ago, said “Canada appears to have achieved most if not all of its important objectives in this lengthy and challenging set of negotiations.”
New York Times: Trump Hails Revised Nafta Deal as a Trade Promise Kept
In a statement, Ford Motor said it was “encouraged” by the accord, adding that a three-nation trade zone “will support an integrated, globally competitive automotive business in North America” and help keep and add manufacturing jobs.
Bloomberg: Trump Clinches Rebranded Nafta as Canada Joins Pact With Mexico
The new accord involves improved access to Canada’s dairy market for U.S. farmers, stronger intellectual property provisions, and tighter rules of origin for auto production, according to two senior Trump administration officials who spoke to reporters on condition of anonymity.
Washington Post: President Trump hails new USMCA trade deal with Mexico and Canada as ‘historic news for our nation and indeed for the world’
“Congressional GOP leaders, who generally like NAFTA, applauded the announcement of the new deal, with some saying it validated Trump’s approach to trade policy.”
Fox News: Trump’s new trade deal: What to know
“The deal calls for 40 percent to 45 percent of cars to be produced by workers earning $16 an hour, much higher than the minimum wage in Mexico. This aims to support jobs in the U.S. auto industry by leveling the playing field.”
Washington Post: Trump makes minor trade deal, declares world-historic victory
“What is the difference, as far as the president is concerned, between the worst deal ever made and an incredible, spectacular, amazing deal? It’s obvious: Terrible deals are those negotiated by people other than Donald Trump, while fantastic deals are those negotiated, or at least approved, by Donald Trump.”
“In the original negotiations three decades ago, Canada essentially “won.” This is why our political class will define the success of the new USMCA exclusively on its preserving the key features of the original NAFTA.”
“Although high quality product is a good outcome, high price is not the way to achieve it. The consumer also bears the exorbitant price of good imported dairy product due to tariffs. Why be satisfied with pale imitations of famous cheeses from around the world when Canadians could enjoy the original version at a competitive price?”
Bloomberg: Globalists Will Love Trump’s New Nafta Deal
“The risk to trade agreements, especially in the Trump era, is that negotiators believe they must go big or go home. The latest deal suggests a more positive prospect: Small, in trade diplomacy, is still beautiful.”
Latest posts by Henry Goldbeck (see all)
- Home is Where the Office Is-Benefits and Drawbacks of Working From Home - July 3, 2019
- Personality Perks: the Impacts of CEOs on Company Culture - June 18, 2019
- Hiring for Ability: Subject vs Function Experience - May 29, 2019