Trump: Trade deal returns US to ‘manufacturing powerhouse’
05 October, 2018, 13:19
Late on Sunday, the United States and Canada reached a deal to overhaul the North American Free Trade Agreement (NAFTA), complementing an accord the Trump administration brokered with Mexico, the third member of NAFTA, in late August. The United Steelworkers of Canada adopted a less conciliatory tone after the new trade deal was announced, calling it a "sell-out" for Canadian workers. Canada's loonie is also way up from where it was recently, with the Mexican peso also trading at a higher value too because of the new deal.
The agreement ends more than a year of tortuous melodrama, name-calling, insults and threats from U.S. President Donald Trump, and capped a weekend of 11th-hour negotiations created to meet the midnight deadline imposed by Trump to either get in or get out of the trilateral free trade agreement that Mexico had already signed off on behind Canada's back.
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.
He said Canada produces milk to supply the domestic market and uses the supply management system to balance it and to make sure there is the proper amount of milk that is produced for Canadian consumption.
Political deadlines are often fuzzy but Canada and the USA appear to be working towards some major compromises and a NAFTA deal.
TRUMP: "This deal will also impose new standards requiring at least 75 per cent of every automobile to be made in North America in order to qualify for the privilege of free access to our markets". Never mind that the United States-Mexico-Canada Agreement (USMCA) is similar to the original NAFTA.
He says Canada will work to protect local industries from US producers flooding the market with steel and aluminum.
But it came at a cost. It grants USA milk producers access to 3.6 per cent of the Canadian domestic market.
"It feels like a death by a thousand cuts", Cambridge, Ont., dairy farmer Mike Bechtel told CTV Kitchener.
While increased demand is good for every dairy farmer, big farms who sell to co-ops stand to see the biggest impact. "However, the absence of details on measures to mitigate the impact of the concessions made within the USMCA, as well as the absence of a vision for the future of our industry at this time, can not appease the concerns of the dairy farmers". The NDP also calls the deal bad for individual Canadians because they will be paying more for medication.
In exchange, Canada and Mexico received relief from the impending auto tariffs Trump might impose.
But the president said his administration had not yet agreed to lift tariffs on steel and aluminum imports from Canada, a contentious issue between the two neighbors. It is also well above the 1.8 million cars and SUVs Mexico sent north previous year.
However, a few issues like U.S. tariffs on steel amd aluminum imports, along with retaliatory tariffs were left out of the USMCA deal.
Trade autonomy: one more alarming concession that has many concerned in Ottawa is language that may restrict Canada's ability to negotiate a trade deal with a "non-market" country, for example, China.
The news delighted financial markets that had fretted for months about the potential economic damage if NAFTA blew up.
The Canadian dollar surged to its highest since May against the US dollar, gaining around 0.5 percent from Friday's close.
"Though markets were already anticipating an agreement, one source of worry will be swept away if a deal is made", Yukio Ishizuki, senior currency strategist at Daiwa Securities in Tokyo, said. Now, this country and its leaders appear to be back in the mercurial USA president's good books.
If Kohli gets 49 more, he'll become the first Indian batsman to score more than 1000 runs in three consecutive calendar years. He had a dream-come-true moment when he received his Test cap from none other than the Indian skipper, Kohli.
After year's end, the Trump administration expects unmarried partners to change visa status or leave in 30 days. Globe, a group that advocates for LGBT staff at the U.N., said in a statement released before the change.
The Nokia 7 .1 will be available from JB Hi-Fi (including SIM-only plans) and Harvey Norman from October 17 with an RRP of $499. The camera comes with features like True Life HDR, Bokeh mode, Pro Camera mode, Livestream functionality, and Bothie .
President Donald Trump said last week during his explosive news conference on the margins of the UN General Assembly in NY . That disagreement led Saudi Arabia to expel the Canadian ambassador from the country and freeze all talks.
Rahul was gone for a golden duck when Caribbean pacer Shannon Gabriel trapped the Indian opener in front of the wickets. He was not facing one of the best attacks but he gave ample evidence of his brilliance on way to a memorable hundred.
Insigne's goal doesn't just keep their Champions League ambitions alive but perhaps their season-long aims too. Hello! Welcome to the Live Updates of Napoli Vs Liverpool! Check out my previous Champions League plays.
Muncy's pinch-hit homer gave him 34 for the season and the drive splashed into McCovey Cove beyond the right-field arcade. He has allowed just eight hits in those two wins. "Hopefully he makes some mistakes and we execute and capitalize on it".
However, they got hot at the right time and continued to charge through the schedule, keeping the pressure on the Cubs . The Chicago Cubs and Milwaukee Brewers have one more game to play to decide the victor of the National League Central.
Parsons Jr. told The Associated Press that the park is closed and is cooperating with the investigation into Stabile's death. N. fowleri infections are extremely rare: From 1962 to 2017, 143 cases were reported in the US , according to the CDC.
And I'm just saying if I didn't get my song and dance routine in it, that's nothing to cry about, but I may have enjoyed that. Cape Town - Tom Hardy says the film industry is "superhero-movie heavy" after starring in upcoming Marvel release Venom .
Farm Bureau welcomes U.S.-Mexico-Canada trade agreement
Graeff says US dairy futures are mostly steady to firm, but he notes there was no major market move after the news. Class 7 is a domestic pricing class that governs milk ingredients such as skim milk powder and milk proteins.
I told Saudi king he wouldn't last without USA support
Trump continued the pressure campaign at a campaign rally in MS on Tuesday, where he offered some details about the conversation. The average price for a gallon of regular gasoline in the U.S.is $2.88, up from $2.55 a year ago, according to AAA.
'Very scary time for young men in America'
But earlier, the Senate Democratic leader claimed there was "mounting evidence that Judge Kavanaugh is just not credible". Agents have already interviewed Justice Kavanaugh's friend, Mark Judge, according to his lawyer.
Rockies beat Cubs in 13 innings, advance to NLDS
Freeland has been a revelation this year, posting the best ERA (2.85) by a Rockies starting pitcher in franchise history. Yet those defeats are distant memories for Cubs' players, many of whom weren't even in the league when they occurred.