Trump loves AEUMC after burning NAFTA

US President Donald Trump on Monday hailed the "most important trade agreement in US history" reached in extremis Sunday with Mexico and Canada, to replace a free trade treaty crucial for the economies of the United States. three countries and almost 25 years old.

The outgoing Mexican President, Enrique Peña Nieto, spoke of a "win-win-win" deal. Canadian Prime Minister Justin Trudeau hailed a "totally beneficial" deal for Canadians.

At the time when the US President praised the text during a long press conference devoted mainly to trade in the rose garden of the White House, appeared the first criticism but also the first questions about a possible blockage in the US Congress, which after the legislative elections of November could partly return under majority of the democratic opposition.

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New history

"I am very pleased to share with the American people this new history for our nation and also for the world," said the president, visibly very satisfied.

"This historic agreement will attract money and jobs to the United States and North America," said the leader.

Trump, who is generally not known for his attention to detail, has drawn up a long list of benefits he sees in the new EUMISS for farmers who can export more or workers in the US auto industry who can keep their jobs but also for the environment or intellectual property.

He had forced his partners to renegotiate the 1994 North American Free Trade Agreement (NAFTA) he considered disastrous for the US economy, saying he had lost millions of jobs in the manufacturing sector American and in particular the automobile.

Canada and the United States announced Sunday evening, just half an hour before the expiry of Washington's ultimatum, "an agreement in principle, together with Mexico" to reform the free trade binds 500 million North Americans.

Trump wants to sign the text in late November with Mexican outgoing president, Enrique Peña Nieto, who leaves power on December 1 and Canadian Prime Minister Justin Trudeau.

But the new United States Mexico Canada Agreement (AEUMC) must be ratified by the parliaments of the three countries.

Criticism and doubts

Do you think the text will be adopted in Congress? interviewed a journalist, just over a month away from crucial legislative elections.

Donald Trump assured that he had other options at his disposal if the US Congress was to reject the new agreement but without elaborating.

"Democrats may want to throw in one of the biggest agreements for the people and the workers. It may well be that they want to do this for political reasons with a line of sight (the presidential) of 2020, "accused the president.

Some Democrats have stressed the need to look closely at the agreement but not reject it in advance. Nancy Pelosi, leader of the opposition in the House of Representatives stressed that "to repair the Alena is to increase the pay of the American workers, to guarantee a true right of work, and to ensure a fair treatment for the American agriculture ".

On the Canadian side, dairy farmers strongly denounced Monday the new agreement that opens their sector a little more to foreign competition.

"We do not see how this agreement can be good for the 220,000 Canadian families who rely on the dairy industry for a living," said Pierre Lampron, president of the Canadian Producers Association in a statement.

The Canadian and American teams had been conducting a marathon of negotiations since early September, after having begun discussions on an overhaul of the Alena, imposed by the American president, more than a year ago.

Auto, environment, internet

One of the most important aspects of the new text concerns the automotive sector, which has been completely revolutionized by the Alena. The AEUMC provides rules for sourcing materials and components in the United States and North America. It also provides for a provision forcing Mexico to increase the sector's wage earners to reduce the gap with the better-paid northern neighbors.

The system of rules of origin in the field of automobile production evolves little. 2.6 million vehicles assembled in Canada are exempt from US customs.

Justin Trudeau agreed to soften his dairy market for US producers, in exchange for maintaining the commercial arbitration system.

Washington and Ottawa have also agreed that the new trade treaty will contain a chapter on the environment, a first since the creation of the Alena in 1994, and retains the Canadian cultural exception dear to the Trudeau government.

On the other hand, heavy tariffs imposed on Canadian steel and aluminum - among others - by a Trump President anxious to protect the US steel industry remain in place for now, despite Ottawa's anger .

 

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