These minor revisions to NAFTA are overall good news for America and are one more step in Washington's trade wars.
The new agreement, known as the United State-Mexico-Canada Agreement or USMCA, has a lot of wins for USA auto workers. The deal is likely to come into force by 2020, as it will have to be approved by Congress which will vote while it is in session next year. "The new name will be The United States Mexico Canada Agreement, or USMCA", Trump wrote.
But the deal also gives USA drug companies two extra years in Canada before generics can compete against name brands. Now, under the deal, Mexico won't be able to rely on cheap components anymore, and subsequently, that will drive an upgrade of the Mexican industry. This aims to support jobs in the USA auto industry by leveling the playing field. This new trade deal requires more of the cars we drive be made in North America. "I believe that an improved North American Free Trade Agreement is good for both our economy and the American worker".
The 70-year-old veteran negotiator was referring to Jared Kushner, more than 30 years his junior and Donald Trump's son-in-law, whom the president had asked to help out on trade early in the presidency, especially on Canada and Mexico. "Japan is wanting to negotiate".
Additionally, Mexico will get an auto parts quota of $108 billion annually, while Canada will get a parts quota of $32.4 billion annually in the event of US auto tariffs.
"I want to be very clear: Compensation for the dairy sector, for the supply managed sector, is fair and justified and there will be full compensation", Freeland said Monday evening.
Now, all members of Parliament, regardless of their party affiliations and regardless of their personal views on China and the United States, must vote with their conscience and protect Canadian sovereignty by rejecting Article 32.10 of USMCA.
Amazon-owned IMDB is reportedly close to announcing a new streaming service
In turn, "Free Dive" would allow Amazon to grow its advertising revenue in the TV market to better compete in the space. The Information first learned about the service back in August, but it seems an announcement is imminent from Amazon .
"These measures will support many - hundreds of thousands - American jobs", Mr Trump said.
While Beijing hasn't officially issued a statement about the USMCA, Chinese media have been critical. At the end of the day, there are pictures of him signing a document, and to most Trump supporters that's the smell of napalm in the morning.
Li Guangman, a freelance writer and columnist for Chinese news opinion portal CWZG, wrote that Mexico and Canada were simply "corpses that have been killed by the big bat of the USA trade war" and China "should not show any sympathy towards them [Mexico and Canada]".
The deal was reached after Prime Minister Justin Trudeau called a meeting with his cabinet late Sunday, following a breakthrough in negotiations.
But the United States and European Union are challenging the declaration, arguing that Chinese state subsidies fuelling excess industrial capacity, the exclusion of foreign competitors and other practices are signs it is still a non-market economy. US dairy groups said the Class 7 system was created to shut off its shipments of ultra-filtered milk to Canadian processors.
If Trump imposes so-called Section 232 auto tariffs on national security grounds, Mexico and Canada would each get a tariff-free passenger vehicle quota of 2.6 million passenger vehicles exported to the United States annually, well above their current export levels.