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TRUMP REACHES TRADE DEAL WITH MEXICO AND CANADA

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.