OCTOBER 04, 2018
President Trump’s new trade deal with Mexico and Canada is being hailed as a major victory. (Reminder: This news follows on the backs of other major new trade deals with the EU and South Korea)
Here’s what today’s deal means:
More car and truck components will be manufactured in North America, a “substantial boost” from the old NAFTA limits.
40% of work on a car or truck will be done by workers earning at least $16 an hour. This is the strongest labor provisions of any trade agreement.
Canada has agreed to loosen its protections on its dairy industry, giving greater market share to U.S. dairy farmers.
Improves the TPP’s “weak protection” of intellectual property, and establishes new trade commitment to grow the digital economy.