Trump’s “modern…new trade agreement” isn’t even NAFTA 2.0


Reuters/Leah Mills — edited

❝ Two months after signing the United States–Mexico–Canada Trade Agreement (USMCA) to replace the 1994 North American Free Trade Agreement (NAFTA), the Trump administration has submitted to Congress a list of the changes in US law that are needed to comply with its terms. As expected, the January 29 notification reinforced the perception that what President Trump called “the largest, most significant modern and balanced trade agreement in history” requires very few changes in US law because much of the new accord replicates or closely parallels NAFTA and other recent US trade pacts…

❝ The US Trade Representative (USTR) notification, due 60 days after the pact was signed on November 30, 2018, is one of the requirements set by Congress to expedite implementing legislation for US trade agreements. The most important changes in the submission involve increased restrictions on US auto imports and decreased US barriers to farm goods shipped from Canada.

That’s it, folks. I’d suggest reading the article. There are six topics out of a meager six pages covering this “new, significant” report to Congress – as required by law. Nothing that wouldn’t have been covered by a normal update to a treaty like NAFTA. Most of which was already laid out in the Trans-Pacific Partnership Agreement that went into force recently – signed by Mexico and Canada and ignored by our fake president.

I’d call it NAFTA 1.1…

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