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U.S. trade deal with Mexico and Canada announced


This news story was published on December 2, 2018.
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Trade deal reached in North America

WASHINGTON, D.C. – Under the leadership of President Donald J. Trump, the United States has reached an agreement with Mexico and Canada in the renegotiation of the North American Free Trade Agreement (NAFTA). The new United States-Mexico-Canada Agreement (USMCA) is a mutually beneficial win for North American workers, farmers, ranchers, and businesses. When finalized and implemented, the agreement will create more balanced, reciprocal trade that supports high-paying jobs for Americans and grows the North American economy.

Agreement highlights include:

•Creating a more level playing field for American workers, including improved rules of origin for automobiles, trucks, other products, and disciplines on currency manipulation.

•Benefiting American farmers, ranchers, and agribusinesses by modernizing and strengthening food and agriculture trade in North America.

•Supporting a 21st Century economy through new protections for U.S. intellectual property, and ensuring opportunities for trade in U.S. services.

•New chapters covering Digital Trade, Anticorruption, and Good Regulatory Practices, as well as a chapter devoted to ensuring that Small and Medium Sized Enterprises benefit from the Agreement.

To view the full text of the agreement between the United States, Mexico and Canada signed on November 30, 2018, click here.

While the United States, Mexico, and Canada have concluded a new, rebalanced agreement, NAFTA currently remains in effect. The USMCA can come into effect following the completion of TPA procedures, including a Congressional vote on an implementing bill.

USMCA Statements and Fact Sheets:

Joint Statement from United States Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Modernizing NAFTA into a 21st Century Trade Agreement

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Rebalancing Trade to Support Manufacturing

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Strengthening North American Trade in Agriculture

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Agriculture: Market Access and Dairy Outcomes of the USMC Agreement

UNITED STATES–MEXICO–CANADA AGREEMENT FACT SHEET Supporting America’s Small and Medium-Sized Businesses

USMCA State Fact Sheets

Grassley

U.S. Sen. Chuck Grassley of Iowa released the following statement regarding the Trump administration’s announcement that a new trade agreement has been signed by the United States, Mexico and Canada.

“As an advocate for free and fair trade, I’ve supported trade agreements that lower barriers and deliver opportunity for American farmers, workers and businesses. When President Trump first announced his plan to renegotiate NAFTA, I was skeptical and nervous about the consequences for Iowa farmers and the agricultural economy. As the process has moved forward, I’ve been impressed with the President’s ability to negotiate smartly, strongly and to the benefit of the country.

“This updated trilateral trade agreement shows that America stands ready to do business and negotiate trade agreements that create mutual economic prosperity while leveling the playing field to correct trade discrepancies that hurt U.S. interests. It modernizes America’s most important trade relationship and strengthens our ability to export more ‘made-in-America’ goods. For Iowa, it will help expand market access for dairy, eggs and poultry producers.

“Now that the agreement has been signed, the Senate Finance Committee will review it with a fine-tooth comb and have the opportunity to weigh in. As incoming chairman of that committee, I’ll work closely with committee members and the Trump administration to guide the agreement through Congress.”

Grassley recently announced he would opt to serve as chairman of the Senate Finance Committee in the 116th Congress. The Senate Finance Committee’s jurisdiction includes trade and tax policy. Grassley is also a member of the Senate Agriculture Committee and a family farmer. The United States is the world’s largest agricultural exporting country, selling one third of its product abroad. Agricultural exports account for about a quarter of farm cash receipts.

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10 Responses to U.S. trade deal with Mexico and Canada announced

  1. Anonymous Reply Report comment

    December 3, 2018 at 8:13 am

    The problem is that Bush/Obama bailed out the automakers and I believe Obama pushed for the green cars to be built. Unfortunately, you have to let companies go with the market and the green cars are not selling.

      • Anonymous Reply Report comment

        December 3, 2018 at 5:56 pm

        Best year yet means nothing compared to auto sales. 1 over zero is still 1.

    • JK Reply Report comment

      December 3, 2018 at 10:21 pm

      I guess you haven’t kept up with what Ford, GM, Volvo, Nissan, Porsche, and Ferrari are doing. They’re using electric motors to enhance performance while keeping emissions low. Volvo has a 400 HP hybrid that gets 27 MPG highway. Let’s compare that to a 2005 Tahoe that had 295 horsepower that got 20 MPG. The new Tahoe produces 420 horsepower with 23 MPG. Ford is making their new Aviator and Explorer models with hybrid engines too, the horsepower will go up to 450 and the MPG will increase. The Porsche 918 produces 875 horsepower and gets 67 MPG. So cars are getting more powerful and greener. GM is planning to introduce 20 all electric cars globally within the next five years and why do you think Ford decided to get rid of all their sedans? Because they are ramping up electric car production and we all know what great cars Tesla produces. The day when everyone owns a car at least powered partly by electric is only a few years away.

    • JK Reply Report comment

      December 3, 2018 at 10:31 pm

      And don’t ignore what companies like Ferrari, Mclaren, and Porsche are doing. Today’s $1,000,000 hyper cars are tomorrow’s every day driver’s vehicle. Porsche paved the way in the 80’s for equipment that is standard on almost every car we’ve driven for the last ten years.

  2. Allen Reply Report comment

    December 2, 2018 at 2:41 pm

    Sounds good, so let the bashing begin.

    • Anonymous Reply Report comment

      December 3, 2018 at 4:24 am

      Ain’t that the truth! It must be so frustrating…Trump haters want to trash-talk the Prez non-stop, but he keeps disappointing them! Six more years, baby!

      • Anonymous Reply Report comment

        December 3, 2018 at 10:32 pm

        Ain’t going to happen dumbass.
        The yellow cowardly draft dodger Trump,cadet “bone spurs” will either be impeached or resign.
        Being the coward and POS that Trump is, he will just quit.

        • Anonymous Reply Report comment

          December 4, 2018 at 5:15 am

          When you go directly into childish name-calling, it is a sure sign that your message is based on ignorance. Is that all you have?

          • Anonymous

            December 4, 2018 at 9:51 am

            He/she can’t help it, he/she was kept in the closet as a child because he/she’s parents were ashamed of their child. Every time he/she opened the closet door he/she was told to shut the door, dumbass. It’s a learned trait.