2017 to Present:
Trump Administration Trade Deals with Mexico, Canada and China
December 14, 2019
US- Mexico- Canada Trade Agreement (USMCA):
• After the United States-Mexico-Canada trade agreement (USMCA) gathered political dust on House Speaker Nancy Pelosi’s impeachment desk for over a year, the California Democrat finally agreed to let House members vote on the measure.
• Through tough regional content rules and strict labor and environmental provisions, USMCA is forecast to create over 75,000 new auto jobs and almost 200,000 new jobs overall.
• USMCA will also break down Canadian and Mexican agricultural barriers – a boon for American dairy, poultry and wheat farmers. It should pass both chambers of Congress by comfortable margins.
Source: Fox News – Peter Navarro – 12/14/19
Link: Good Week for Trump
U.S. – China Trade Agreement:
• After a similarly long gestation period, the United States and China completed a "phase one" trade agreement. It represents an important milestone along President Trump’s long march towards ending China’s economic aggression against American workers and manufacturers.
• The centerpiece of the deal is a strong and effective enforcement mechanism. The United States can impose proportionate penalties without fear of retaliation if China violates the deal’s provisions on intellectual property theft, forced technology transfer, or currency manipulation.
• In another boon for American farmers, China has also committed to a dramatic increase in purchases of pork, soybeans and other agricultural products. To ensure China negotiates in good faith on Phase Two of the deal, tariffs remain in place on over $350 billion of Chinese imports.
Source: Fox News – Andy Puzder – 12/13/19