U.S. Dairy Farmers React To New North American Trade Agreement
- Author: Rogelio Becker Oct 06, 2018,
Oct 06, 2018, 11:51
Below, BNN Bloomberg breaks down the expected winners and losers of the new agreement.
Canadian dairy farmers stand to lose 3.59 per cent of their market to US producers under the new trade deal, known as USMCA. This posed an acute dilemma for the administration of Prime Minister Justin Trudeau, given that NAFTA underpins three-quarters of the exports Canada sends south of its United States border and 2.5 million jobs in the country depend on this trade.
As part of the modernization of the North American Free Trade Agreement (NAFTA), the three trade partners agreed to have a larger regional content in the manufacture of light vehicles as a way to guarantee free trade in the zone.
Speaking at the conservative think tank the Hudson Institute, Pence said that "the Dragonfly app. will strengthen Communist Party censorship and compromise the privacy of Chinese customers". "This agreement will advance the ball for some sectors, but for others, the deal represents a return to the status quo".
"Quelling that situation is a good thing", Balbian said.
According to the WCIT, exports from Washington into Mexico have increased 700 percent and exports to Canada grew to 200 percent since NAFTA was implemented in 1994.
This could lead Mexico and Canada to remove their tariffs on USA agriculture products, he said, but that would likely be far into the future. The next step will be seeking approval of the U.S. Congress.
Of most striking section of the USMCA is the one which preserved the rights of the US president to impose 25 percent tariffs on imported automotive models and vehicle parts.
"Any of us that have invested in new barns to meet the needs of the Canadian consumer are not going to be able to fill those barns because the market is gone", says Paul Gaunce. And that hurt competition from USA imports.
Certain agriculture groups have been pushing the administration to once again exempt Canada and Mexico from the US steel tariffs. With the Trump administration calling the new trade agreement a big win for farmers, he worries that these systemic issues will be overlooked again once the trade deal is signed.
China said a Chinese warship had been sent to warn the USA vessel to leave an area of irrefutable Chinese sovereignty.
"Now again, we get hit".
From January to July, Iowa exported a total of $2.6 billion in goods to Canada.
In a statement to The Canadian Press, Chinese Embassy spokesman Yang Yundong calls the move "dishonest behaviour" that blatantly interferes with the sovereignty of other countries.
Pence on Thursday said "there is a new consensus on China rising across America", where more business leaders are "thinking twice before diving into the Chinese market if it means turning over their intellectual property or abetting Beijing's oppression".
"China has initiated an unprecedented effort to influence American public opinion, the 2018 elections, and the environment leading into the 2020 presidential elections", Pence told the audience of mostly scholars, echoing claims made by President Donald Trump at the United Nations a week ago implying that China, in addition to Russian Federation, was involved in efforts to undermine American elections. As of this week, Mexico's tariffs are still in place.