I think there is a side agreement limiting the number of Canadian car exports to the USA.
Need more info. But maybe the side agreement was in return for being exempted for any car tariffs that the USA may impose on “national security grounds”.
More details to come...
Quadruple Canada tariffs so that Canada is forced to create a free republic, while sending the Queen a bag of tea.
Quit enabling Canada’s poverty.
Ten Things to Know About the New Nafta Deal
' 1. Car rules
Want to import a car duty-free from another Nafta country? It will be harder if the new deal is enacted, compared with under the existing 1994 pact. Vehicles would need 75% North American content, compared with 62.5% currently. The shift is a win for labor unions and auto workers but a headache for global suppliers to the auto industry.
2. Wages
New rules would require at least two-fifths of a vehicle that is eligible for duty-free trade in North America to originate from workers earning at least $16 an hour. Think of it as a cap on the amount of parts coming from low-wage Mexico. But companies get credit for high-wage research and development.
3. Labor Standards
The Trump administration and its unusual trade allies among Democrats and U.S. labor unions are particularly proud of a set of higher labor standards that, if implemented, would lead to more powerful unions in Mexico and possibly higher wages there. Still, some Democratic lawmakers say they aren’t satisfied with the level of enforceability of these labor provisions.
4. Sunset Clause
The agreement will face a “sunset” in 16 years, if it isn’t actively renewed or renegotiated. The three countries will meet every six years to decide whether to renew the pact, potentially keeping Nafta-pocalypse 16 years in the future in perpetuity. Canadian and Mexican officials say the uncertainty of sunset clauses undermines investment in their countries. Still, companies are somewhat pleased the Trump administration didn’t get the 5-year sunset clause it was seeking.
5. Exchange-rate curbs
In a global first, the Nafta pact includes enforceable rules to deter countries from artificially weakening their exchange rates to gain trade advantages. While the U.S., Canada and Mexico aren’t regularly blamed for this kind of infraction, the auto industry and its allies hope the rules will be included in deals with Asian countries in the future.
6. Dairy Bargain
U.S. officials negotiated greater access to Canada’s dairy market, where a government system controls prices and limits the amount of imports with steep tariffs. The dairy deal is likely to win praise from lawmakers from milk-rich U.S. states, but it could have political ramifications in Canada, including in Monday’s provincial elections in Quebec.
7. Dispute Resolution
Nafta includes mind-numbingly complex systems to hold countries to account when they bend or break trade rules. Trump administration officials are wary of systems that can overrule the U.S. government and have sought to weaken the dispute resolution systems. Trade lawyers will analyze the text of the deal so that industries and labor unions can form opinions and influence lawmakers’ votes. One system that allows foreign companies to challenge governments—investor-state dispute settlement, or ISDS—has been sharply scaled back.
8. Tariff Reviews
Canadian officials fought to keep another arbitration system that allows the country to challenge U.S. duties on allegedly dumped or subsidized Canadian imports, for example. U.S. trade representative Robert Lighthizer and American lumber producers had wanted to scrap the system, but in a victory for Ottawa, the U.S. agree to keep it.
9. Trump-Tariff Relief
Under its agreement last month, Mexico would be protected from the brunt of any national-security tariffs the Trump administration is considering on vehicles and auto parts, and Canada got a similar deal, a U.S. official said late Sunday. But Mr. Lighthizer has said that any respite for Canada from steel and aluminum tariffs will have to be negotiated separately.
10. No More “Nafta”?
“Nafta” was excoriated during the 2016 presidential campaign, and President Trump, a veteran of marketing and branding, has sought to change the name. The new deal will be called the ‘United States-Mexico-Canada Agreement,” or “U.S.M.C.A.,” the official told reporters.
What do you think, tomorrows NYT Headline, top of the fold?
Hopefully that will good for us Canadian consumers. Cheese and butter very expensive here.
Bookmark!
thank you Mr. President for having the guts and common sense to defend our national economy (i.e. our workers and businesses) from enemies foreign and domestic.
this will go far in helping secure the Wisconsin vote.
Love it. So Canada’s trade negotiator Chrystal Freeland got Trumped. I guess she forgot she worked for Canada. Buuuuwaaahaha!
Which one? French or English?
_________________
:Culture as in yogurt?
Hope he sold out Hollyweird and got some wins for dairy...hahaha.
We get the dairy exports to Canada and we print the whole agreement in French to protect their cuckture.
Yeah...it was a spelling error to begin with but I left it in because it made more sense.
TOTAL winning. And look at the market today.
can anyone remember a president hitting the ground running so fast with his agenda in his first 18 months, Did Bush or Obama or canton come close to his moves trade? Isn’t he out multi-asking the multi-tasker compartmentilizer media hero Clinton. Please slow down the winning I’m getting dizzy.
I’m very disappointed Hillary and Obama are no in prison. That and the wall need to be done. But this guy is way out ahead of anyone I can remember.
I regularly travel I-91...which runs from the Quebec border down to close to NYC.Traveling south from the Canadian border I routinely see scores of huge trucks sporting Quebec plates and huge loads of huge logs.Anyone who’s ever been to Quebec knows that there’s *no* shortage of “wild” timber up there.
Trump!!!!
Where are all the free traders who for the past several decades assured us all those old rip-off trade deals were good for America?
Where are those people?