US, Canada and Mexico praise 'historic' NAFTA replacement deal

02 October, 2018, 20:59 | Author: Clarence Schmidt
  • Donald Trump holds a news conference on the sidelines of the 73rd session of the United Nations General Assembly in New York

Mr. Schumer, who voted against the North American Free Trade Agreement under President Clinton, said his final evaluation will depend on how strong the labor protections are, and whether the USA got a better deal on dairy from the Canadians.

Trump told reporters, "Once approved by Congress, this new deal will be the most modern, up to date and balanced trade agreement in the history of our country, with the most advanced protections for workers ever developed".

"The Canadian dairy market will now be filled by surplus milk", from the U.S., David Wiens, vice-president of the Dairy Farmers of Canada, told Bloomberg.

A protectionist policy under the Mr Trump has seen the USA forge ahead with individual trade deals, rejecting bigger multi-lateral trade agreements and posing a challenge to decades of global free trade.

"It feels like every time there's a trade deal, we just keep getting whittled away at".

The U.S. and Canada are under pressure to reach a deal by the end of the day Sunday, when the U.S. must make public the full text of the agreement with Mexico.

Among the biggest changes: USA dairy farmers get wider access to Canada's dairy market; intellectual property gets tighter across-the-board protection and more of the autos sold in North America will be made in North America.

U.S., Canada and Mexico just reached a new trade deal.

"We will be manufacturing many more cars", Trump said, because companies will now stay within the United States and can employ American workers.

"We know full well the American administration targeted the complete scrapping of supply management and what we did with this agreement was to protect supply management for future generations because it is a system that works", Trudeau said.

"Without tariffs, we wouldn't be talking about a deal", Trump said. But President Perrin Beatty said in a statement, the details of the text needed a closer look before a final verdict could be rendered.

"This has happened, despite assurances that our government would not sign a bad deal for Canadians", Pierre Lampron, president of Dairy Farmers Canada, said in the statement.

In Ottawa, PMO officials say there will be another cabinet meeting Monday and a news conference likely as well.

"We think we could easily be one of the first countries to have an agreement once [the United Kingdom has] the legal authority to start negotiating", he said.

Dairy Farmers of Canada issued a terse statement nearly immediately after the 11th-hour agreement was announced late on September 30, following 14 months of hard negotiations between the parties. "That's dealing with China, dealing with European Union, with everybody, Japan, Mexico, Canada, everybody", he said. "I think Justin's a good person who's doing a good job". "It's a privilege for them to do business with us", he said.

With the new deal, Canada will increase market access for USA dairy, poultry, and eggs.

Canada and Mexico are the United States' two biggest export markets.

The agreement also exempts tariffs on 2.6 million cars.

Hundreds of pages of the agreement released early on Monday contain updated arrangements for Canada's dairy industry and measures aimed at shifting lower-paid auto manufacturing jobs from Mexico.

"It removes that uncertainty that was hanging over the sector, in terms of our access to this North American market, in terms of the rules related to our integrated North American supply chain".

"The agreement will govern almost $1.2 trillion in trade, which makes it the biggest trade deal in United States history", Trump said. Any dairy imports above the 3.6-per cent threshold still face Canada's punishing tariffs, which were a sticking point in negotiations with the U.S.


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