USMCA: In late 2018, President Trump delivered on his promise to replace the outdated North American Free Trade Agreement (“NAFTA”) with the United States-Mexico-Canada Agreement (“USMCA”). “The USMCA is the largest, most significant, modern, and balanced trade agreement in history” with many important and unique features that will support “mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America.” Some of the unique features include: (1) protections for United States Innovators and Creators; (2) the most comprehensive enforcement provisions of any trade agreement; (3) the strongest standards of protection for trade secrets of any prior fair trade agreement; the strongest disciplines on digital trade of any international agreement; (4) increased de minimis shipment value level; (5) liberalization of financial services markets leveling the playing field for U.S. financial institutions, investors, encouraging investment in financial institutions, and cross-border trade in financial services giving discretion to financial regulators to co-operatively co-ordinate to ensure financial stability among trading partners; (6) obligating signers to prevent discrimination against U.S. financial services suppliers; (7) the first EVER U.S. trade agreement, that includes a prohibition on local data storage requirements in circumstances where a financial regulator has the access to data that it needs to fulfill its regulatory and supervisory mandate; (8) unprecedented macroeconomic policies and exchange rate matters including transparency commitments on currency issues addressing unfair currency practices, commitments to refrain from competitive devaluations and targeting exchange rates, while significantly increasing transparency and accountability; (9) the strongest labor provisions of any trade agreement creating enforceable standards and practice accountability, worker representation in collective bargaining requirements pursuant to the International Labor Organization, one of a kind dispute settlement mechanisms employing a United States-Mexico rapid response mechanism that ensures effective enforcement while respecting signatory sovereignty and due process, and trade rules to drive higher wages by requiring that 40-45 percent of auto content be produced by workers earning at least USD $16 per hour; and (10) the most advanced, comprehensive environmental standards of any trade agreement by bringing making them enforceable core agreement principles.
The President was critical of and promised to renegotiate NAFTA and replace it with a mutually beneficial trade agreement that puts an end to the economic disadvantage created by NAFTA'S poorly negotiated provisions. The USMCA is a state of the art, leveling of the playing field between our most important trading partners. Our neighbors. We will all be its beneficiaries of the prosperity it creates for decades to come.
Democrats say that the President’s economic policies are destructive. That is a lie. The Trump Administration had taken calculated steps to restore economic prosperity to the country … and prior to the virus … the results of their policies were unprecedented.
He did it once. He’ll do it again
#beingfrank #BlueInTheFace #FMG #trump2020 #trumpublicans #vote2020 #democratdelusions ___ *This post has been prepared from a variety of source materials. Footnotes available on request. ___ www.frankcastingmediagroup.com www.frankmulhall.com