Question

Assignment: On the background of USMCA Agreement explore world's biggest trading partners - Canada and USA relations to the following specific industries: Steel Aluminum Automobile Dairy Products Beef Evaluation Criteria's: Importance and overall global trade value MEN status Overall national economic contribution direct and indirect Employment skilled/unskilled and overall national share Laws governing the Agreement ► Trade Dispute Resolution ADR - Alternative Dispute Resolution ► Past and Current Scenarios Respective Government's current stance Personal Trade Perspective - what each government need to do to draw win-win strategic relationship

Answer 1

The New United States-Mexico-Canada Agreement (USMCA) may be a dependent win for North yankee employees, farmers, ranchers, and businesses. once finalized and enforced, the agreement can produce additional balanced, reciprocal trade that supports high-paying jobs for yankees and grows the North American economy.

STEEL. The USA industry is hopeful the entry of the US-Mexico-Canada Agreement can facilitate bolster demand for steel throughout North America, industry. the foremost substantial amendment within the USMCA is new rules of origin needs, that stipulate that seventy fifth of Associate in Nursing automobile to be factory-made in North America to qualify for nontaxable treatment, up from 62.5% within the original NAFTA that successively would offer employment to virtuoso moreover unskilled employees up from twenty sixth to forty third and additional The USMCA additionally includes a brand new labor worth content rule, which needs firms to pay a share of their personnel $16 per hour to qualify for a reduced tariff rate. Maintains nontaxable treatment for originating merchandise.Maintains the prohibition on export duties, taxes, and alternative charges and also the release of specific customs process fees. Adds new provisions for transparency in import licensing and export licensing procedures.

ALUMINIUM. This trade agreement guarantees sturdy, honest and rules-based trade of Al and Al merchandise between the 3 countries. moreover, the new Rules of Origin that incentivize regional sourcing of Al for motorcar elements and vehicles can drive demand for U.S. Al makers within the years to come back. aluminum business and also the 690,000 yankee jobs it supports. The domestic aluminum business can still thrive inside a tariff- and quota-free North yankee region. Imports of atomic number {13|metallic element|metal} sheet and plate from China into Mexico have redoubled by nearly one hundred fifty p.c within the past year and quite 1,700 p.c since 2014. And currently it’s time for all 3 USMCA countries to develop and coordinate on systems that may determine and proactively address issues concerning Al.

AUTOMOBILE. seventy fifth of traveler vehicle and light-weight truck parts to be factory-made in a very USMCA country while not being subjected to tariffs. ... this can be a rise from the present NAFTA provision of sixty two.5% which will stay in impact till USMCA is legal. USMCA additionally mandates that automakers manufacture four-hundredth of their motorized vehicles in facilities wherever assembly employees square measure earning a minimum of US$16 Associate in Nursing hour. whereas average wages square measure even on top of that for motorcar assembly employees in North American nation and also the U.S., they're not in Mexico, wherever variety of U.S. automakers have shifted production in recent years to require advantage of the lower prices.

DAIRY merchandise. USMCA basically changes Canada's trade-distorting policies, reforms Canada's moot dairy farm system and provides exclusive Canadian market access for U.S. farmers and makers. ... Full compliance is crucial to achieving additional honest trade with North American nation and protective American-made cheeses in Mexico. USMCA can advance U.S. agricultural interests in 2 of the foremost necessary markets for yankee farmers, ranchers, and agribusinesses. This high-standard agreement builds upon our existing markets to expand us food and agricultural exports and support food process and rural jobs. U.S. food product exports. In 2018, U.S. dairy
exports to Mexico were valued at $1.4 billion and to North American nation at $731 million out of total dairy farm exports of $5.9 billion. Mexico is that the leading marketplace for U.S. cheese and fat-free dried milk exports. North American nation is that the leading export marketplace for butter and processed dairy farm merchandise (e.g., kid formula, milk drinks, and ice cream).

BEEF. additionally, the imports of beef and beef merchandise from North American nation and Mexico total $4 billion, that is $2 billion quite the quantity of U.S. beef exports. trade relations with Mexico and North American nation, that square measure essential destinations for U.S. pork, beef and lamb. This agreement can bolster the United States' position as a reliable provider to 2 leading markets that presently account for concerning common fraction of all U.S. meat exports. we glance forward to the Senate seizing this legislation as before long as attainable and finishing the commendation method

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