Sunday, 21 October, 2018


U.S., Canada agree on free trade pact

Trump and Trudeau agree on a revised NAFTA deal Canada-US reach deal to reform NAFTA
Conrad Doyle | 04 October, 2018, 07:44

The USMCA gained the USA greater access to Canada's dairy markets by eliminating a pricing system that made it harder for US dairy farmers to enter the market, as well as raising quotas on how much US dairy can come into Canada.

Edge Dairy Farmer Cooperative applauded the announcement of the new United States Mexico-Canada agreement (USMCA) especially with the elimination of the Class 7 milk price, which allowed Canadian milk producers to undercut the price of U.S producers.

Auto exports from Canada to the U.S. are to be capped at 2.6 million vehicles, if Trump imposes global tariffs on cars on national security grounds.

"USMCA is the big trade deal - the largest deal ever made, so far, in trade - I expect to top it with China or European Union or something".

In a big victory for his agenda to shake-up an era of global free trade that many associate with the signing of NAFTA in 1994, US President Donald Trump virtually forced Canada and Mexico to accept more restrictive commerce with their main export partner. Fortunately, many programs funded by the farm bill, including crop insurance, still have secure funding until the end of this year. The deal then would have to be approved by Congress.

"The agricultural community is counting on our elected leaders to ensure that a safety net remains in place during these uncertain times. I've always felt that this would be a trade coalition of the willing to send a message to China that they've got to shape up and start behaving like a citizen in the new world of trading", Kudlow said.

"I'm not happy, I'm ecstatic", Marshall said of the deal.

The US made a deal with Mexico in August, but relations with Canada over the trade pact had become increasingly strained in recent weeks. "These measures will support many - hundreds of thousands - American jobs", Trump said in remarks at the White House.

Despite Trump's attacks and the acrimony between the top trade negotiators, the two sides were able to reach a trade deal on Sunday.

"We're very unhappy with the negotiations and the negotiating style of Canada", Trump said.

The trade impasse was overcome after both parties made some concessions, with Canada agreeing to grant USA farmers greater access to its dairy market and limit its automotive exports to the US. It also requires 40 to 45 percent of vehicles by made by workers who receive wages of at least $16 an hour, according to the Associated Press.

Foreign Affairs Minister Chrystia Freehand stands with U.S. Trade Representative Robert Lighthizer, right, and Mexico's Secretary of Economy Ildefonso Guajardo Villarreal, earlier this spring.

Just a few days ago Trump attacked Canadian Prime Minister Justin Trudeau and his negotiating team, and had demanded major changes to NAFTA.

Industry Week noted: "This provision is an incentive for automotive manufacturers to produce more goods in the United States, given its higher labor costs than those in Mexico".

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