September 24, 2021

What Is The New North American Trade Agreement

On May 30, U.S. Trade Representative Robert E. Lighthizer presented Congress with a draft declaration on the administrative steps needed to implement the U.S.-Mexico Agreement (USMCA and the new NAFTA), in accordance with the 2015 Presidential Trade Promotion (TPA) Administrative Action Statement. The project will allow congress to be presented to Congress, after 30 days, on June 29, a law to implement the USMCA. In a letter [73] to Nancy Pelosi, House of Representatives spokeswoman Kevin McCarthy, the minority leader of the House of Representatives, the Republican, told Lighthizer that the USMCA was the gold standard in U.S. trade policy, modernizing the competitive trade in digital, intellectual property and services in the United States and creating a level playing field for U.S. businesses. , workers and farmers, an agreement that represents a fundamental shift in trade relations between Mexico and Mexico. On Wednesday, U.S. Trade Representative Robert Lighthizer in a video here, the USMCA said that “the largest, most costly and modern trade agreement in our history,” added that it would create tens of thousands of new production jobs in the United States. The CUSMA results, signed on the sidelines of the G20 of Heads of State and Government in Buenos Aires in November 2018, preserve key elements of long-term trade relations and contain new and updated provisions to address 21st century trade issues and foster opportunities for the nearly half a billion people who call North America at home. The United States has reduced tariffs on steel and aluminum on Canada and Mexico.

Tariffs had been for nearly a year and were part of a bitter trade dispute between North America`s trading partners. (17.05.2019) Trump has called for a revised agreement that reduces incentives for companies to travel to Mexico. And he threatened to abandon NAFTA if he couldn`t get what he wanted. Negotiations for a replacement began in August 2017. The three countries signed the USMCA at the end of 2018. After delays and intense negotiations between the government and Democrats in Congress, the House of Representatives ratified the agreement in December and the Senate this month, with the support of all parties. The negotiations focused “primarily on car exports, tariffs on steel and aluminum, as well as the milk, egg and poultry markets.” A provision “prevents any party from enacting laws that restrict the cross-border flow of data.” [11] Compared to NAFTA, the USMCA increases environmental and labour standards and encourages domestic production of cars and trucks. [12] The agreement also provides up-to-date intellectual property protection, gives the U.S. more access to the Canadian milk market, imposes a quota for Canadian and Mexican auto production, and increases the customs limit for Canadians who purchase U.S.

products online from $20 to $150. [13] The full list of differences between USMCA and ALEFTA is listed on the Website of the United States Trade Representative (USTR). [14] Carlos Vejar, a former Mexican trade negotiator, said it was in the country`s interest to respect commitments to strengthen trade unions and end child labour. Probably not much. Trade is a relatively small part of the U.S. economy. And trade with Mexico and Canada is even smaller. In an analysis last year, the Independent International Trade Commission calculated that the USMCA would increase economic growth by 0.35 per cent or $68 billion and create 176,000 jobs over a long period of year – only in an economy worth $22 trillion, with 152 million non-farm jobs.

On December 9, 2019, Fox News reported that negotiators from the three countries reached an agreement on implementation, paving the way for a final agreement within 24 hours and ratification by all three parties before the end of the year.

About Bob Bergey

Bob has been driving motorcoaches since 2002, in every state east of the Mississippi and a few west, as well as the four southeastern-most provinces of Canada. In addition to driving, he's an avid photographer (and former professional), enjoys writing and technology.