Who are the real winners and losers in the USMCA deal?

Who are the real winners and losers in the USMCA deal?

President Trump says is the USMCA is the biggest trade deal in USA history, created to replace the 1994 NAFTA pact.

On Sept. 30, the U.S., Canada and Mexico reached a deal to scrap NAFTA and replace it with a new trade accord, narrowly meeting a self-imposed deadline for consensus. And Canada prevailed in insisting that a NAFTA dispute-resolution process be retained.

Like other USA trade agreements, NAFTA allowed multinational companies to go to private tribunals to challenge national laws they said discriminated against them and violated the terms of the trade agreement.

This new trade deal requires more of the cars we drive be made in North America.

At least 40% of a vehicle made in North America must also be made by a worker earning at least $16 an hour, which is likely to benefit the USA and Canada most.

The measures will have a "dramatic impact" on dairy farmers and cause the industry to shrink, said Pierre Lampron, president of Dairy Farmers Canada, in a statement.

There are no details yet on how much compensation Canada is willing to provide or what form it will take.

"Don't forget you can buy stuff from other countries besides China, not just the USA", he said. Here's a rundown of the new NAFTA, which Trump has nicknamed the USMCA. Tariffs are a negotiating lever, he told a reporter who asked if more U.S tariffs are likely.

Online Gambling in the USA: Progress or Stalemate?
With one major exception: online gambling, a global industry triggered by the innovative work of two Canadian youngsters. The current legal status of online casinos and poker rooms in the US is - for lack of a better word - controversial.

"New monopoly privileges for pharmaceutical firms. could undermine reforms needed to make medicine more affordable here and increase prices in Mexico and Canada, limiting access to lifesaving medicines", Wallach said.

Trudeau repeatedly made the point that he had managed to preserve the protected domestic market, which some US interest groups said should be scrapped.

That's why modernization - updating rules and standards to keep up with the times - is a critical and positive update to the trade deal tying the North American continent together. For example, it opens up about 3.5% of Canada's protected dairy market to U.S. farmers and allows Canadians to purchase five times the amount of foreign products online without paying an additional import tax.

Canada also got away without the imposition of hard limits on its auto exports to the U.S. However, according to CBC, the Canadians may still be subject to U.S. steel and aluminum tariffs, and are keen to settle that issue before ratifying the USMCA.

"In short, we think this is a fantastic agreement for the USA, but also for Canada and Mexico", said the American officials, who cheered the fact that USA dairy ranchers would soon have "substantial" expanded access to lucrative markets north of the border. U.S. Trade Representative Robert Lighthizer suggested as much on Monday, calling the deal a "template" for future trade agreements as significant trade tensions remain with the European Union and, most importantly, China. He says that while he's optimistic the United States-Mexico-Canada Agreement will create opportunities, he's anxious about the impact on Ontario's agriculture sector. "If we are unable to get a fair deal, then we'll have tariffs".

Canada was able to secure an arrangement to avoid Trump's threatened tariffs on automobiles, however. Given the TPA's notification requirements, that means Congress will not vote on the deal until 2019, when Democrats could be in control of at least one chamber of Congress in the US. He plans to sign the deal by the end of November.

Trump and Trudeau did speak briefly about the agreement by phone Monday.

Balsillie said that these changes will hurt Canadian business, as the country is a net importer of intellectual property - in effect, they will allow US businesses to "entrench and extend" their business here.