USMCA Could Mean Big Things for Small Portion of Iowa Ag Economy

USMCA Could Mean Big Things for Small Portion of Iowa Ag Economy

That's the new trade deal that Pres. Trump means to replace NAFTA, or the North American Free Trade Agreement.

The NAFTA deal was signed in 1994, and governed more than $1.2 trillion dollars worth of trade between the three countries.

After pledging to stand shoulder-to-shoulder with the Trudeau government during negotiations with the United States and Mexico, Ontario Premier Doug Ford has taken a more critical tone since the deal was announced, repeatedly asking about compensation for the province's agriculture sector.

Initial reports indicate that the revised agreement will allow the United States greater access to Canada's dairy market and addresses Canadian concerns about potential auto tariffs, sources told CNN.

After threats from President Donald Trump that he could leave the Canadians out of a trade deal altogether, the U.S., Canada, and Mexico agreed to a trilateral trade named simply the United States-Mexico-Canada Agreement.

Two senior government officials confirmed the meeting. However, he says it's important for Canadians to think about what they're buying. "It's a brand-new deal", Trump said yesterday.

He said he wasn't sure if they would reach an agreement by Monday, but that he was cautiously optimistic. "Lots of progress, not there yet", he said. 'It's never done until it's done'.

Ontario Premier Doug Ford said that while he was cautiously optimistic about the implications of the new deal for Ontario and that it could create new opportunities, he felt that Ontario's dairy farmers were "thrown under the bus" in the new deal.

Kansas City leave it late to take 27-23 win against Denver
When you have the defensive play-makers that they have, they can cover people. "That wasn't the reason we lost the game". If Keenum makes that completion, the Broncos are able to erase all of their second half mistakes with one swift play.

U.S. President Donald Trump said on Tuesday that U.S. steel and aluminum tariffs would remain in place for Canada and Mexico until they "can do something different like quotas, perhaps".

On Monday afternoon, Darigold President and CEO Stan Ryan issued a statement saying the company was grateful that the US was looking out for the American dairy industry with this latest agreement.

He said the new deal was "much more reciprocal" than Nafta, which he blamed for the loss of one in four jobs in the auto industry and 4.1 million manufacturing jobs.

While the trade agreement helped strengthen the loonie, rising oil prices and other factors also have boosted the Canadian dollar, said Steven Globerman, an worldwide business professor at Western Washington University, in an email to The Bellingham Herald.

"I want to see San Antonio businesses doing more trade with Canada and Mexico", Castro said.

USMCA doesn't trip off the tongue like NAFTA, but that didn't stop Justin Trudeau's cabinet signing the deal off shortly before midnight in Washington, to avoid trade relations with the U.S. being poisoned.

On the other hand, the United States will give more scope to Canadian dairy, peanuts and similar products in its market.

Mexico, which is the number one importer of US dairy, had slapped a 25% tariff on the product after the Trump Administration placed tariffs on their aluminum and steel. These alterations aim to encourage automakers to shift production away from Mexico and to Canada or the United States instead. It requires Canadians to import slightly more USA milk, and it tweaks the requirements for foreign-manufactured cars to qualify for tariff exemptions, but neither is likely to have a substantial impact. But Canadian arrogance didn't play well with the Mexicans, who pre-empted Canada with a US-Mexican trade deal, which gave away the dispute-resolution mechanism.

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