Despite the above ?
Congress has to approve any trade deal….
So NAFTA?
The Bill Clinton trade agreement with Canada and Mexico is still in effect….
(Trump will surely name his new effort for him or the GOPer’s)
The House should be a different place come January 1……
President Trump announced Monday from the Oval Office that he plans to enter into a new trade agreement with Mexico called the United States-Mexico Trade Agreement — getting rid of the name NAFTA — with the hope that Canada will “negotiate fairly” and join at a later date, enter into a separate deal, or face automobile tariffs.
The details: Despite Trump’s announcement, any trade deal would have to first approved by Congress. Per Reuters, the agreement with Mexico requires 75% of an automobile’s value to be manufactured in North America, up from NAFTA’s current level of 62.5%. It would also require 40% to 45% of the car to be made by workers earning at least $16 an hour….
Trump has given a Friday deadline for Canada to accept the partial deal he thinks he has with Mexico on NAFTA….
Congress has to vote on this…
But Canada just got something of a partial win from a US Trade panel…
An independent trade panel on Wednesday derailed the Trump administration’s push to impose tariffs on imports of newsprint from Canada, handing a significant win to U.S. newspapers, union groups and scores of lawmakers who pressed for the change.
The 5-0 decision by the U.S. International Trade Commission marks a significant win for newspapers that were reeling from increased costs of up to 30 percent for a core product. It also removes a prominent thorn in the bilateral relationship between the United States and its northern neighbor and comes as the two countries are working to resolve differences in NAFTA talks by the end of this week….
More…
Although I have no idea precisely how NAFTA can be properly amended or superseded, it’s quite possible that any significant changes that Chrystia Freeland (Canada’s foreign affairs minister) and Prime Minister Justin Trudeau (Lib) agree to would also have to pass the Canadian House of Commons and Senate in Ottawa.
The Liberals have a very comfortable majority of 183/338 in the Commons (Cons. 96, NDP 42, othes 15, vacant 2), and in a Westminster-modelled system, the governing party’s members usually either support the government or replace the leader (see what’s been happening in Australia over the last two weeks).
But on an issue like tariffs — where an individual MP has as much to fear from (and feels as much responsibility to) constituents whose very likelihood is at stake, as from his or her party or party leaders — I would expect H.M. Government to make pretty sure that they have solid backbench support before introducing any amendments to NAFTA.
South of the U.S. border, the Trump administration is trying to get this approved while the Mexican government is still headed by President Enrique Peña Nieto of the Institutional Revolutionary Party (PRI) before he yields office on December 1st to Andrés Manuel López Obrador, of the National Regeneration Movement (MORENA), who led a left-wing opposition coalition to victory in last July’s elections.
As with other Trump admin ‘agreements’ effort?
This is far from a actual deal….
It would have to approved by Congress and unless the whole thing gets done by Dec 31st?
The Democrats are SURE to look to change things come Jan 1st….