TRUMP REACHES TRADE DEAL WITH MEXICO AND CANADA
- Oct 29, 2020
- 1 min read
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.
A trade deal of this scale certainly reshapes opportunities for workers and industries across North America. Stronger labor provisions and expanded market access can drive long-term growth. Just as policies set a foundation for progress, vehicles also need accurate systems to function safely, and an ADAS calibration center plays a key role in keeping advanced driving technologies reliable.