Canada capitulates on copyright in new USMCA deal

04 October, 2018, 08:40 | Author: Salvatore Jensen
  • Trump and Trudeau agree on a revised NAFTA deal

USA president Donald Trump on Monday announced a new trade agreement with neighbouring Mexico and Canada and declared the agreement to be "a great deal" for all three countries and said the pact brings an end to the previous North American Free Trade Agreement (NAFTA).

John Weekes, Canada's chief NAFTA negotiator in the early 1990s, said the new clause is no different from the pact's original clause that gives any country the right to terminate the agreement on six-month's notice for any reason.

Canada will still impose tariffs on USA dairy products exceeding the quota, but changes should give US dairy farmers more access to Canada and other foreign markets.

"While this trade agreement was very good news, we are disappointed that Congress was not able to reach a compromise on a new farm bill in advance of the September 30 expiration of the current farm bill". In order to do so, the administration of US President Donald Trump needed to make public the document to allow for a legally mandated 60-day review period. Cabinet meeting to discuss the North American Free Trade Agreement talks.

The President said he plans to sign the deal by the end of November. When Canada was added as a result of the agreement reached at the eleventh hour on Sunday, the agreement was called the United States-Mexico-Canada Agreement (USMCA).

Just hours before a US -set deadline, the USA and Canada reached an agreement on a rewrite of the North American Free Trade Agreement.

"On Tuesday, all the rumblings were that Trump and Trudeau were going to meet at the General Assembly - in fact, senior-level USA officials were telling stakeholders that at private dinners, luncheons, receptions in Canada and the US", the source said.

Under NAFTA, Xie explained, many Mexican products sold in the US market were the result of packaging cheap components imported from elsewhere, such as China.

The new trade deal must still be approved by Congress before it can take affect.

"I do think we're not a security risk on steel and aluminum".

"The economic ties between the three countries are a major contributor to each country's financial success, and no state benefits more from the NAFTA relationship than Texas".

"We had to make compromises, and some were more hard than others", Trudeau said, promising full compensation to dairy farmers who might suffer.

Lilly said if digital products fall outside the general exemption on cultural industries, it could limit Ottawa's ability to set Canadian content standards in digital media.

Canada had opposed USA demands to weaken or eliminate NAFTA'S dispute resolution mechanism, whose arbitration panels Ottawa used to resolve trade conflicts, and to defend against United States anti-dumping and countervailing duties, notably against its important lumber industry. "It also is critical that we see what final labor enforcement, auto rules of origin and government purchasing provisions will look like".


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