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Thread: Trump, Trudeau praise USMCA trade deal they say will 'grow middle class'

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    Smile Trump, Trudeau praise USMCA trade deal they say will 'grow middle class'

    Trump, Trudeau praise USMCA trade deal they say will 'grow middle class'
    Opposition critics accuse Liberals of caving to U.S. president's demands

    Kathleen Harris · CBC News · Posted: Oct 01, 2018 10:55 AM ET | Last Updated: 8 hours ago

    Prime Minister Justin Trudeau and U.S. President Donald Trump are both talking up the benefits of a new trilateral trade pact between Canada, the U.S. and Mexico, saying it will grow the middle class and boost all three countries' economies.

    Trudeau said the successor to NAFTA — the United States-Mexico-Canada Agreement (USMCA) — will modernize and stabilize the economy for the 21st century, guaranteeing a higher standard of living for Canadians for the long term.

    At a news conference in Ottawa, the prime minister said striking the deal was "no easy feat" and Canada got there by maintaining its focus and collective resolve. He defended Canada's concessions on the dairy sector, promising to address the "anxiety" with adequate compensation for affected farmers and to protect the supply management system.

    Warning that the agreement must still be ratified by all three countries, Trudeau said the tentative deal means economic stability for the continent.

    "Free and fair trade in North America, a trading zone that accounts for more than a quarter of the world's economy with seven per cent of its population, is in a much more stable place than it was yesterday," he said. "We now have a path forward."

    Some highlights of the deal:

    • A dispute resolution process (formerly Chapter 19 of NAFTA) remains in place.
    • The U.S. gets access to 3.6 per cent of Canada's dairy market.
    • Tariffs on steel (25 per cent) and aluminum (10 per cent) remain under Section 232 national security grounds.
    • Auto tariff exemptions for 2.6 million Canadian autos exported to the U.S., far exceeding the current export rate of 1.8 million.
    • Duty-free purchases through e-commerce jump to $150 from the current $20.

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    I just noticed after I posted this that the story was covered indirectly in Michele's post about the Dow rising 200 points. Oops.

    Anywho, here's the Canadian take on it, for shits and giggles.

    Also, Bloomberg on some of the details about what's new and what stays the same. Frankly, I don't see much that is better about it. There are still steel and aluminum tariffs, and there's a raised cap on car exports from Mexico and Canada that mean even more can be made out of the USA before tariffs kick in.

    There's some babble about increased intellectual property rights, and some stuff about arbitration and dispute resolution, but in the end it all seems the same.

    Except… for milk. Canada will allow more access to its markets for American milk.

    So, yay dairy farmers and... what about everyone else?
    You can't spell "hatred" without "red hat".

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    I to would like to know why the tariffs will still apply in some area's?

    Mark
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    Quote Originally Posted by Tom Servo View Post
    Trump, Trudeau praise USMCA trade deal they say will 'grow middle class'
    Opposition critics accuse Liberals of caving to U.S. president's demands
    I was surprised to see how quickly leading Democrats offered kind words about the deal. For example,

    Schumer: Trump 'deserves praise' for work to fix Mexico, Canada trade deal

    Trump's new trade deal with Canada and Mexico is winning early praise

    Here Ms Pelosi keeps her powder dry:
    House Minority Leader Nancy Pelosi: "Fixing NAFTA means increasing the paychecks of American workers, delivering real, enforceable labor standards, ensuring fairness for American agriculture, and recognizing the connection between economic growth and environmental protections," Pelosi said. "Democrats will closely scrutinize the text of the Trump Administration's NAFTA proposal, and look forward to further analyses and conversations with stakeholders."
    I'm reminded a lot of comments about the possible rapprochement being North Korea and the civilized world. Praise, some grudging, and attention to the incompleteness of the process.

    Here too the negotiations are incomplete. But it's fair to ask for balance, I think, between the hectoring (and outright scorn) aimed at the president earlier in the process and the reaction to substantial success to date.

    I'm curious to know if the remaining NeverTrumpers believe Hillary Clinton would have been more effective in our trade and foreign affairs negotiations.

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