Canada's finance minister touts USMCA but says dairy, steel sectors need help

Canada's finance minister touts USMCA but says dairy, steel sectors need help

The United States "finally came to their senses" and created an environment conducive to reaching an agreement with Canada, said Jerry Dias, head of the major Canadian union Unifor, a key player in the negotiation drama.

Some likeminded business groups agree that Trump's in-your-face style, a far more confrontational stance than his predecessors deployed, deserves credit.

The new agreement, he said, is "a great deal for all three countries" because it "solves the many deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduces Trade Barriers to the US and will bring all three Great Nations together in competition with the rest of the world".

NAFTA, which is 24 years old, tore down trade barriers among the three countries.

Critics, though, contend that Trump's apparent breakthroughs appear much more impressive than they actually are.

"Where she would not back down and be more aggressive, he would not back down but be the more soft-spoken of the two - that's my impression of the dynamic", said Monique Smith, a former Liberal member of the Ontario legislature who later became the province's first USA envoy.

"You set a bunch of fires. you put them out and you call yourself a hero", said Philip Levy, senior fellow at the Chicago Council on Global Affairs and a White House economist under President George W. Bush.

More news: Napoli 1 Liverpool 0: Insigne secures deserved win at the end

A deal seemed imminent, worrying those within the USTR who were convinced they weren't yet done, said the source.

Trump's aggressive tearing up of long-standing U.S. trade deals, with everyone from its two huge neighbors to China and the European Union, has rattled world leaders and sparked fears of economic turmoil. But the trade pact also encouraged American factories to move to Mexico to take advantage of low-wage labor. Four months later, he threatened to target foreign autos and auto parts — imports that amounted to $340 billion a year ago. Consequently, manufacturers with significant operations in Mexico might decide to simply pay the low US tariff rather than adjust their supply chains. Many trade analysts dismissed that rationale as preposterous. "A replacement for NAFTA, the USMCA will increase US access to Canadian markets and ensure greater centering of the vehicle industry in North America".

In the meantime, even if they can't meet the content level for a tariff exemption, passenger cars entering the US would just face the standard duty of 2.5 percent. Trump had threatened to freeze out Canada, which would have been hugely disruptive because automakers have developed an extensive North America-wide supply chain since NAFTA took effect in 1994.

Thanks to lobbying by the energy industry, the U.S. -Mexico-Canada Agreement allows oil and a few other industries to continue using a special dispute-resolution process from the original NAFTA agreement in their dealings with the Mexican government. Under the revamped version, Seoul submitted to quotas on its steel and aluminum exports to the United States and modestly opened South Korea's auto market to US automakers, among other things. "That's not the intent of worldwide trade deals nor anything we've sought in any USA trade agreement". Tokyo had resisted Trump's entreaties, preferring a broader trade pact, like the 12-country Trans-Pacific Partnership negotiated by the Obama administration.

Negotiations on NAFTA 2.0 began in August 2017 and inched ahead for months. Canada avoided auto tariffs and maintained access to the all-important American market. It reached a deal with the administration in August that was intended, among other things, to shift some manufacturing and investment away from low-priced Mexico to the United States. About 952,000 USA workers are employed in manufacturing automobiles and parts.

Aaron Padilla, senior adviser for global policy at the American Petroleum Institute lobbying group, said companies pushed for the arbitration clause because they are investing big sums over many years in offshore oil projects and want to be sure they have some protection from changing politics.

Trump said it was unfair and economically crippling to dairy farmers. But that concession wasn't much more than Ottawa had agreed to in the TPP.

More news: Brett Kavanaugh 'belligerent and aggressive' after 'heavy' drinking, ex-classmate says

Farmers have been battered by Trump's trade policy.

Talking up the new accord, Trump declared it a "privilege" for foreign powers to do business with the United States. And, he suggested, any gains for the United States have come at a cost. Canada and Mexico were the top export markets for Minnesota products previous year, with Mexico just ahead of third-place China, according to the state Department of Employment and Economic Development. "It's been a bruising period". "Does it help the average worker in the U.S.?"

Daniel Ujczo, a trade attorney with the Dickinson Wright law firm, said Canada and Mexico also must give the USA notice before starting those trade discussions and updates of all proposals made during the negotiations.

"Negotiators on Mercosur just met and that market of roughly 275 million, including Brazil, is moving swiftly towards a comprehensive outcome", Pickerill said. Beijing has counterpunched with import taxes on $110 billion of American products.

The meat of the accord centered on changes that would benefit a handful of major US industries - oil companies, dairy farmers and pharmaceutical companies - possibly at the expense of consumers. Analysts say China won't likely give up policies meant to secure its long-term prosperity.

"The general course of the deal started to be more positive, the USTR became concerned there may be some procedural challenges to his deal with Mexico from the Hill, and I think the White House wanted to ramp up the pressure and started repeating its threats about auto tariffs".

More news: Kavanaugh faces crucial vote, White House eyes GOP senators

Related News:

  • Arthur delivers on his huge promise as Barcelona pass their Tottenham test

    Arthur delivers on his huge promise as Barcelona pass their Tottenham test

    He held the ball up, tracked back and ran around like a man possessed in the second half to try and get his team back in the game. Of course, he's the best player in the world but come on, in the first half we conceded in the first minute.
    Kontaveit makes biggest final in Wuhan over ailing Wang

    Kontaveit makes biggest final in Wuhan over ailing Wang

    Wang moves on to the semi-final, where she will face either Estonia's Anett Kontaveit or the Czech Republic's Katerina Siniakova . Wang won the first two games of the match but the clinical Kontaveit won the next six games in a row to take the first set.
    Trump and Trudeau agree on a revised NAFTA deal

    Trump and Trudeau agree on a revised NAFTA deal

    Trump wanted Canada to open its dairy market to USA farmers, and Canada wanted to preserve a mechanism for resolving disputes. The US Chamber of Commerce has said it would be "unacceptable to sideline Canada, our largest export market in the world".
  • What exactly will FBI probe in Kavanaugh investigation? Feinstein seeks details

    What exactly will FBI probe in Kavanaugh investigation? Feinstein seeks details

    Independent voters, who supported Kavanaugh 45 - 39 percent September 10, oppose his confirmation 49 - 39 percent today. Roche also said he believed Deborah Ramirez, another Yale classmate who claimed sexual misconduct against Kavanaugh.
    IPhone XS, XS Max owners report charging problems

    IPhone XS, XS Max owners report charging problems

    SquareTrade and fix advocate iFixit have both submerged the new phones in beer for hours - and they've survived. For those who prefer everything in one place, get this leather folio for your iPhone XS Max .
    Actor Lindsay Lohan Gets 'Punched' After Accusing Family of Human Trafficking

    Actor Lindsay Lohan Gets 'Punched' After Accusing Family of Human Trafficking

    The videos posted prior to this one show Lohan on the streets of Moscow, so it appears that this video has also been filmed there. Her suggestion came after she remarked to the family the children should not be "on the floor". "I won't leave until I take you".
  • OnePlus 6T Won't Feature Wireless Charging or IP Rating, Says CEO

    OnePlus 6T Won't Feature Wireless Charging or IP Rating, Says CEO

    I'm a big fan of their phones, as are many of you, but I'm OK if they want to stop acting like something they aren't. As part of its marketing program, OnePlus has opened up The Lab - as it has done with previous models of its phones.
    Mourinho is embarrassing Manchester United - Scholes

    Mourinho is embarrassing Manchester United - Scholes

    We tried to play but in some crucial phases we didn't have the technical quality to build from the back. Asked to comment on Scholes criticism, Mourinho replied, "I don't need to know what he said".
    Cubs Reveal 25-Man Roster For Wild Card Game Against Rockies

    Cubs Reveal 25-Man Roster For Wild Card Game Against Rockies

    Strop was under consideration to return for the win-or-go-home game against the Colorado Rockies after missing the past two weeks. He'll be opposed by Kyle Freeland of the Rockies, who is 17-7 with a 2.85 ERA, but he will be making his first playoff start.
  • Tom Hardy guided by son

    Tom Hardy guided by son

    Though not a criticism of the film itself, Venom suffers from the now all too familiar "spoiled in the trailer syndrome". And while promoting the upcoming film, Riz Ahmed challenged his costar Tom Hardy for his latest Mogambo challenge.
    'Aggressive' Chinese destroyer came within 45 yards of United States  warship

    'Aggressive' Chinese destroyer came within 45 yards of United States warship

    Beijing described the flights as " provocative " and warned that it would use "necessary means" to defend its national interests. Beijing , in turn, urged Washington to either reconsider the move or prepare to bear " consequences ".
    Cowardly Indian attack on AJK PM

    Cowardly Indian attack on AJK PM

    The state premier said the people of Jammu and Kashmir will act as a front line for the defence of every inch of Pakistan and AJK. A video of the same was also released and widely circulated on social media platforms.

Most liked

May’s moves: How the papers reacted to Dancing Queen
Referring to her viral dance moves during her Africa tour, the UK PM awkwardly pumped her arms in the air and made similar moves.

Yankees set HR record, beat Red Sox 8-5 for 100th win
They've been head and shoulders the best team in baseball all year long, winning more games than any other team by a landslide. The Boston offense has compiled a.268 batting average as a team this season, Mookie Betts leads the team with a mark of.346.

Actress Fan Bingbing fined US$70 million for tax evasion
Her disappearance is believed to be related to the May disclosure of a pair of film contracts on Weibo, China's popular social media network.

Dodgers Win 6th Straight NL West
The Colorado Rockies' Charlie Blackmon completed a cycle by hitting an RBI double in the bottom of the eighth inning Sunday. Even though the Rockies are going on the road, they are keeping it simple and running out the same lineup as yesterday.

Manchester City taught 'best lesson' by Hoffenheim in UCL - Pep Guardiola
Manchester City have got off to a strong start in the Premier League , picking up 19 points in their first seven games. Premier League leaders City are locked on 19 points with Liverpool who are second through goal difference.

Kane plans to emulate Messi’s goal spree
Messi has scored 103 Champions League goals, more than any other player, and has eight hat tricks in the competition. Cristiano Ronaldo and Messi continue to set the bar, and Kane believes that's a motivating factor.

5 things we learned from the Premier League this weekend
Talking about his team's recent results, Mourinho said some of his players do not look hurt after a defeat. The performance on the pitch is down to many factors.

Los Angeles Dodgers Defeat Colorado Rockies to Win 2018 Division Title
Marquez last faced the Dodgers all the way back on June 30th when he allowed just two hits and one earned run in eight innings. The Rockies forced their way into that playoff for the NL West title by routing Washington 12-0 on Sunday.

Black Mirror will let you decide characters' fates interactively
It is no secret that Netflix has been planning to combine traditional formatting with video games in the coming years. Fans were quick to discuss the new idea, with one writing: "As if Black Mirror couldn't get more disturbing".

North Korea has up to 60 nuclear weapons, Seoul says
He also said the north is committed to helping maintain "long lasting peace and prosperity" on the peninsula. They also reportedly dismantled propaganda, loudspeakers and some guard posts along the militarized border.

The internet in meltdown as Meghan Markle 'breaks royal protocol'
When she exited her vehicle , she closed the door on her own, even though someone had opened the door for her, according to BBC News .

Man missing after plane plunges into sea in Micronesia
Air Niugini said the weather was bad, it was raining hard and unclear vision at the time the accident happened. Everyone on board survived, and now one passenger is describing what happened as the plane hit the water.

White House: President Trump Didn't Set Limits on FBI Kavanaugh Probe
Judge has said in written statements that he does not recall the incident; Senate Republicans declined to call him to testify. In dueling appearances last Thursday, he and Ford told their stories during sworn testimony before the Judiciary Committee.

Sturridge's Stunning Goal Leaves Rüdiger Lost For Words
Substitute Daniel Sturridge scored a stunning equaliser a minute from time as Liverpool snatched a dramatic draw at Chelsea in the Premier League.

ABC chair quits amid political meddling allegations
He is alleged to have lobbied for the sacking of two senior journalists whose reports were critical of the government. The ABC board met yesterday morning without Mr Milne and asked him to step aside, but he resigned instead.