AFP, Washington :
It was another opportunity for Trump to tout successes in the midst of an impeachment trial where he is fighting charges of abuse of office and obstructing Congress. On Tuesday he announced a Middle East peace plan – rejected immediately by the Palestinians – and earlier this month he signed a truce in his trade war with China.
But even if the new USMCA trade deal with America’s neighbors was crafted in close consultation between Trump’s Republicans and the Democrats, the president pointedly didn’t invite any of the Democratic leaders to his big White House signing ceremony.
The USMCA replaces the 1994 North American Free Trade Agreement, or NAFTA, which Trump has long targeted, saying that it resulted in shipping US jobs abroad.
“Today, we are finally ending the NAFTA nightmare,” he said at the White House.
Analysts say USMCA retains many elements of NAFTA, a mammoth deal that created a free trade zone across all of North America, shaking up entire industries and supply chains.
Economists say that overall NAFTA increased growth and raised the standard of living in North America, binding the three countries in a complex web of trade rules and services.
But the new deal does change content rules on auto manufacturing, to boost US jobs, and requires higher salaries for some Mexican auto workers.
It also makes changes to e-commerce, intellectual property protections and dispute settlement for investors, as well as imposing tougher labor provisions, requiring reforms to Mexico’s laws.
Mexico ratified the new agreement December 10, and Canada is expected to follow suit in coming weeks.
For Trump, the “colossal victory” of USMCA fits neatly into his “America first” campaign message ahead of a difficult November reelection fight and his current battle to see off impeachment over alleged abuse of power and obstruction of congress. “Two decades of politicians ran for office vowing to replace NAFTA… yet when selected they never even tried,” he told government members, lawmakers, union representatives and selected workers assembled at the White House’s South Portico.
It was another opportunity for Trump to tout successes in the midst of an impeachment trial where he is fighting charges of abuse of office and obstructing Congress. On Tuesday he announced a Middle East peace plan – rejected immediately by the Palestinians – and earlier this month he signed a truce in his trade war with China.
But even if the new USMCA trade deal with America’s neighbors was crafted in close consultation between Trump’s Republicans and the Democrats, the president pointedly didn’t invite any of the Democratic leaders to his big White House signing ceremony.
The USMCA replaces the 1994 North American Free Trade Agreement, or NAFTA, which Trump has long targeted, saying that it resulted in shipping US jobs abroad.
“Today, we are finally ending the NAFTA nightmare,” he said at the White House.
Analysts say USMCA retains many elements of NAFTA, a mammoth deal that created a free trade zone across all of North America, shaking up entire industries and supply chains.
Economists say that overall NAFTA increased growth and raised the standard of living in North America, binding the three countries in a complex web of trade rules and services.
But the new deal does change content rules on auto manufacturing, to boost US jobs, and requires higher salaries for some Mexican auto workers.
It also makes changes to e-commerce, intellectual property protections and dispute settlement for investors, as well as imposing tougher labor provisions, requiring reforms to Mexico’s laws.
Mexico ratified the new agreement December 10, and Canada is expected to follow suit in coming weeks.
For Trump, the “colossal victory” of USMCA fits neatly into his “America first” campaign message ahead of a difficult November reelection fight and his current battle to see off impeachment over alleged abuse of power and obstruction of congress. “Two decades of politicians ran for office vowing to replace NAFTA… yet when selected they never even tried,” he told government members, lawmakers, union representatives and selected workers assembled at the White House’s South Portico.
