Monday, 10 December, 2018

Canada and United States agree last-minute trade deal

Trump and Trudeau agree on a revised NAFTA deal US, Canada reach trilateral trade pact with Mexico to replace NAFTA
Orlando Vargas | 02 October, 2018, 04:42

Canada and United States have agreed on for a new trade agreement opening the door to rewrite the North American Free Trade Agreement, NAFTA. The new terms, Trump said, will transform the U.S. But by tomorrow, I would suspect they will change their tune, but that's okay because people know how good it is.

"Anything you submit to Congress will be trouble", he said.

"It's a great win for the president and a validation for his strategy in the area of worldwide trade", a senior administration official told reporters.

The deal, reached late Sunday, will govern $1.2 trillion United States in trade, making it the biggest agreement in the country's history, and marks the end of an era during which the USA has been "treated so badly" on trade by other countries around the world, the president said.

"We will enter October with a trilateral North American trade deal", said Dan Ujczo, a trade lawyer with Dickinson Wright.

Trump said the deal will give US farmers greater access to export wheat, poultry, eggs and dairy, while also turning North America into a "manufacturing powerhouse" and ensuring higher wages for auto workers. That started a 90-day clock that would let outgoing Mexican President Enrique Pena Nieto sign the new pact before he leaves office December 1. "We're using tariffs very successfully to negotiate".

"And I'm not talking about Mexico, Canada".

The agreement ends the simmering trade standoff over NAFTA started by Trump, who had labelled the 1994 agreement the "worst trade deal ever made" as part of his pitch to become president.

Damsteegt said he moved to Canada three decades ago from the Netherlands because he believed in the country's dairy supply-management system.

Ottawa and Washington remained at odds over Canada's subsidized dairy sector, and the dispute resolution provisions in NAFTA.

The agreement reached Sunday gives USA farmers greater access to the Canadian dairy market. "Instead, it appears Canadian steel and aluminum workers are among those being sacrificed in the concessions made by the Liberal government in this deal", he said.

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It said the measures will have "a dramatic impact not only for dairy farmers but for the whole sector".

Officials said they wanted it signed before the new Mexican president, left-wing populist Andrés Manuel López Obrador, took office in case he sought changes.

The symbol indicates 100 per cent Canadian dairy.

So the Americans got two things: "they've got access to the dairy market, the Canadian market, and they've also blocked us from their own market", he said.

Access for other agricultural goods: Canada will give the U.S. more access to its chicken, turkey, and egg markets, and British Columbia will allow the sale of USA wines at its state-owned liquor stores. Dairy Farmers objected to this, too, but the once-obscure dairy classification had become a lightning rod of discontent for Trump. "It's one of my only good traits", said Trump. The official was not authorized to speak publicly and requested anonymity.

Trump canceled a meeting with Canadian Prime Minister Justin Trudeau last week in New York City because the President didn't feel Trudeau was ready to come to an agreement.

He said he hopes the aluminum and steel tariffs can be resolved shortly, but that the manufacturing industry didn't lose anything in the new deal.

However, the new agreement has B.C. agreeing to scrap the restrictions that prevent US wines from also showing up on grocery-store shelves.

The deal will preserve a trade dispute mechanism that Canada fought hard to maintain, to protect its lumber industry and other sectors from United States anti-dumping tariffs.

"We were able to make sure that the dispute mechanism within the original NAFTA agreement is preserved so that we can have a fair adjudication process in our disputes with the United States", he told reporters in Ottawa.

"Canadian retailers will need to continue to offer a greater breadth of assortment online to give themselves the best chance at winning over the Canadian e-commerce consumers", said Armin Begic, the NPD Group's retail business group director, in an email to The Canadian Press. But chamber president Perrin Beatty said the details of the text needed a closer look before a final verdict could be rendered.

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