Canadian Dairy Farmers Not Pleased With NAFTA replacement

Donald Trump and Justin Trudeau during a G7 summit in Canada in June

The revamped NAFTA deal - dubbed the United States-Mexico-Canada Agreement, or USMCA - was nearly 14 months in the making and has 32 chapters, 11 annexes and 12 side letters.

President Trump, however, says he is not hopeful the next deal will be approved by Congress in the next year, saying 2020 election politics could hold up passage.

Meanwhile, the punitive tariffs on steel and aluminum levied last spring on spurious and insulting "national security" grounds remain in place - this was not directly part of the NAFTA negotiation - though perhaps now the Americans will see less value in holding onto bargaining chips that boomerang on their own economy by increasing the price of inputs to US manufacturers.

Negotiators from both sides spent two days talking by phone as they tried to settle a range of hard issues such as access to Canada's dairy market and USA tariffs.

The new trade deal bears a lot of similarities to NAFTA, but there are major differences as well. This new trade deal requires more of the cars we drive be made in North America.

Juan Carlos Baker, Mexico's under secretary of foreign trade, is expected to present the details of the agreement to the Mexican senate, according to the Times.

In a joint statement, U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said the late Sunday agreement "will strengthen the middle class, and create good, well-paying jobs and new opportunities for the almost half billion people who call North America home".

Details on the deal remained sparse, but USA administration officials say it provides increased access to Canada's dairy market for US producers and limits the American impact of Canada's controversial supply management system for dairy and poultry products. He plans to sign the deal by the end of November.

After a year of often heated talks, a new trade agreement has been reached between Canada, the USA and Mexico.

The agreement "will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region".

But in a buoyant performance at his Rose Garden news conference, Trump said the approach of using harsh tariffs to force countries into renegotiating unfair deals had been vindicated.

Bothwell Cheese executive vice president Wally Smith says he is concerned about what increased market access will look like.

In Ottawa, PMO officials said there would be another cabinet meeting Monday and a news conference likely as well. The provision was particularly useful for Canadian lumber companies: they've brought several cases against USA softwood lumber duties, most recently in 2017.

Insiders got wind of a breakthrough just hours before USA and Mexican trade authorities were set to publish their own trade agreement without Canada as a signatory. Washington has already reached a bilateral deal with Mexico, the third NAFTA member.

U.S. Trade Representative Robert Lighthizer and White House adviser Jared Kushner have been updating Trump throughout Sunday on the talks, a U.S. source said. "This is a terrific deal for all of us", he said.

"The agreement will govern almost $1.2 trillion in trade, which makes it the biggest trade deal in United States history", Trump said.

"I think it's the best deal they could have made", said Mark Warner, an global trade lawyer.

Canada, along with Mexico, took a "do no harm" approach to the talks, and there were early indications the Trudeau government succeeded in preserving the status quo in key areas, even though it faced criticism for giving the USA concessions on dairy. "By doing so, it is slowly bleeding Canada's dairy sector". However, tariffs on auto exports appear to have been avoided, with Canada agreeing to a cap.

US drug companies will also now be able to sell products in Canada for 10 years before facing competition from generics, up from eight years.

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