North America Free Trade Agreement
Trade agreements can be as powerful as military force for achieving a country’s strategic objectives.
The plastics industry is using the promise of its future voluntary cooperation to postpone or bar more effective regulatory measures - relying on language in the USMCA to make its case.
American capital brought high rates of chronic disease to Mexico which has led to a surging COVID-19 death toll.
The AFL-CIO is planning to file labor complaints against Mexico this month under the new US-Mexico-Canada trade agreement’s labor enforcement mechanism, the US union’s president said.
The USMCA trade agreement under President Trump is negatively impacting local farmers, but economists said the agreement assures low priced produce in stores.
Already, Mexico’s progressive reforms have made it an ISDS target. First Majestic, a Canadian silver mining company has been threatening Mexico for the last few years, under NAFTA’s Chapter 11.
For Mexican workers, farmers, and the poor, the pandemic and the new treaty replacing NAFTA are a devastating one-two punch.
The deal provides loopholes for oil, gas, and mining companies to operate across borders, and paves the way for US companies to export even more fracked natural gas across the border into Mexico.
The revamped trade pact between the United States, Canada and Mexico taking effect on Wednesday was meant to create a kind of fortress North America, boosting the region’s competitiveness - but cracks are already starting to show in the foundation.
The new North American trade agreement isn’t even in effect yet and the Trump administration is warning Canada and Mexico they might face legal actions under the pact.
26 years of free trade, industrial paradise for transnational corporations and
environmental hell for the peoples.
To qualify for tariff-free trade, makers of heavy vehicles must meet various requirements, including a 60% regional content threshold that will increase gradually and 70% regional inputs of steel and aluminum.
NAFTA and other trade deals have been a disaster for American workers. Unregulated global trade consequences have led to worldwide criminal-level labor exploitation.
NAFTA panel upholds determination Canadian exports harm American producers.
The measures would face legal challenges under Mexico’s commitments not just under the outgoing NAFTA but also its successor, the United States-Mexico-Canada Agreement, an industry source said.
European civil society organisations are deeply concerned about the renewal of the European Union-Mexico trade agreement.
The announcement came three days after the US government launched a campaign to get Mexico to reopen plants, suggesting the supply chain of the North American free trade zone could be permanently affected.
The new free trade deal between the United States, Mexico and Canada will enter into force on July 1, the office of the US trade representative said.
Lopez Obrador said the government was reviewing the matter in the context of the entry into force of the United States-Mexico-Canada Agreement, a trade deal due to replace the 1994 NAFTA.
The US pressed Mexico to reopen border assembly plants that are key to the US supply chain, as part of the North American free trade zone.