Wednesday, 17 October, 2018

USA and Canada claim victory as NAFTA saved at the last

NAFTA talks Canada and US agree last-minute trade deal
Laurie Berry | 04 October, 2018, 15:18

The United States and Canada are reported to have reached an agreement on the North American Free Trade Agreement ahead of a USA -imposed midnight deadline.

Trump acknowledged he and the prime minister have been at odds in recent weeks - but said it was all because of NAFTA, and is over now that the two countries have agreed to a new continental trade pact, christened the U.S. -Mexico-Canada Agreement.

Canada has a system that limits supply, so while Canadian dairy farmers are doing well, Canadian "dairy consumers are not doing well because they're paying a lot more", said Tom Vilsack, chief executive officer of the U.S. Dairy Export Council.

China has been "ripping us for so many years" with its "theft of intellectual property" and through a $375bn trade deficit, by which China sells more laptops, clothes and other goods to the USA than America exports in the other direction, Trump said.

US President Donald Trump and Canadian Prime Minister Justin Trudeau both touted the breakthrough on Twitter, which was dubbed the US Mexico Canada Agreement in a joint statement released by trade negotiators.

- Aiding farmers by curbing Canada's high tariffs and low quotas on USA dairy products.

Since their agreement was announced in late August, Freeland and theCanadian negotiating team have been back and forth to Washington, D.C. for discussions to try to maintain the trilateral agreement before the USA and Mexico embark on their own trade agreement. It replaces the 24-year-old North American Free Trade Agreement (NAFTA), which US President Donald Trump had called a job-killing disaster.

The three North American countries do about $1 trillion in trade among themselves annually. "I think we'll see that played out with China", Alden told Al Jazeera. "It's true. They have to keep us happy, because they understand that we're wise to what's been happening", Trump claimed on Monday.

Nobel Prize in Physics awarded to American, Canadian, French scientists
Goeppert-Mayer, whose work was cited in Strickland's own award-winning efforts, went largely unpaid throughout her career. She said that her work depended in part on the work of the two women who won the Nobel Prize in physics before her.

What's the deal with NAFTA and what's going on?

Among other things, the clause requires any partner seeking such a pact to provide its USMCA counterparts with the full text of a proposed agreement in advance of signing, and identifies such a trade pact as specific grounds under which those counterparts could serve six-month notice to withdraw from the USMCA.

"I don't like NAFTA, I never liked it", Trump said Wednesday. "And frankly we're thinking about just taxing cars coming in from Canada, that's the mother load, that's the big one".

The new agreement does not resolve the 25 percent tariff on Canadian steel imports that Trump imposed earlier this year.

A senior USA administration official said the final rewrite is a "fantastic agreement" and he called it "a big win for the United States, Mexico and Canada".

Meanwhile, the president said he would continue to employ tariffs on other countries only in instances where the governments are "absolutely not willing to do what's fair and reciprocal".

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. He plans to sign the deal by the end of November.

Freeland was seen wearing that same shirt on Sunday in Ottawa, before a deal was reached.

Trump hammered that point home when talking to reporters outside the White House on Monday, as he framed the deal with Canada and Mexico as a win for his hardball strategy to reshape global commerce to benefit the United States.

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