Published: Wed, October 03, 2018
Global News | By Blake Casey

Mexico-Canada Agreement to Replace NAFTA after Last-Minute Deal

Mexico-Canada Agreement to Replace NAFTA after Last-Minute Deal

"Class 7 milk pricing in Canada caused problems for US manufacturers in two different ways", said Eric Meyer, the president of HighGround Dairy in Chicago.

But Canada did manage to hang on to a NAFTA provision which lets companies challenge tariffs before a panel.

"Obviously, China is a significant, growing player on global trade, and as always, we'll look for ways to engage, deepen and improve our trading relationship with them", Prime Minister Justin Trudeau said in a news conference in Vancouver.

President Trump formally announced a new trade deal with Mexico and Canada Monday morning. It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the almost half billion people who call North America home.

The president has adopted an "America First" policy and launched a trade war against China, as well as imposed tariffs on steel and aluminium imports from Mexico and Canada.

Perez said he's encouraged that it remains a trilateral agreement. A similar agreement between Mexico and the USA preserves duty-free access to the US market for vehicles that comply with the agreement's rules of origin.

To qualify for zero tariffs a vehicle or truck must have 75 per cent of its components manufactured in Canada, Mexico or the United States, which is a boost from the current requirement of 62.5 per cent.

U.S. Rep. Joaquin Castro, D-Dist. "If those sound like small numbers it's because they are", he said.

"When people are saying there's a cap on auto exports, it's only in the limited situation where the goods are non-conforming with the rules of origin". The Canadian news site iPolitics said the changes in dairy access may need approval from Canadian provinces. "The practical consequences are limited, if any". Trump then said this was a shame because female leaders are often better than male leaders; all the more the pity, he declared, that these two women hate America.

"We have governments that have come together on an agreement and actually helped the North American supply base as opposed to [having] sold us down the river like previous agreements have done", he said.

It has now been more than a year since the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union came into force.

"This administration is committed to strong and effective enforcement of this agreement, just like all of our other agreements".

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The special administrative region of Hong Kong, which governs its own trade affairs, is separately seeking a free trade agreement with Canada, its commerce secretary, Edward Yau, told the Post in an interview last week.

The deal reached Sunday gives farmers greater access to the Canadian dairy market, a big win for the Trump administration.

Trump: "This new deal will be the most modern, up-to-date and balanced trade agreement in the history of our country".

"It's a great win for the president and a validation of his strategy in the area of worldwide trade".

"The bar for supporting a new NAFTA will be high", Rep. Richard Neal, the ranking member on the House Ways and Means Committee, told reporters Monday.

Meantime, congratulations were being offered among key stakeholders who have been on the edge of their seats waiting to see if Canada and the United States would find common ground.

"A handful of dollars doesn't replace the livelihood of dairy farmers", Dairy Farmers of Canada said in a tweet.

Ottawa will now open its dairy market further to USA producers, and - in return - Washington left unchanged the dispute settlement provisions.

"It is a great deal for all three countries", Trump said during an October 1 ceremony in the Rose Garden.

"Specifically, we will seek clarity on how the agreement addresses the existing tariffs on Canadian steel and aluminium, as well as how it will ensure that tariffs and quotas upon Canada's auto sector exports will be avoided", Beatty said in a statement.

Sixty per cent of Quebec's farmers operate under the supply management system.

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