During a press conference, Justin Trudeau and Chrystia Freeland discussed the USMCA, the new deal that will replace NAFTA.
Here’s what they said:
In a statement, the PMO said the following:
“Following more than a year of negotiations, the three countries have reached understandings in key areas, including rules of origin for automotive manufacturing, agriculture, labour, intellectual property rights, culture, and dispute settlement. Further, Canada has ensured that any US Section 232 tariffs will not impact Canadian auto and auto parts exports. Canada has successfully preserved key elements of the original NAFTA, while building on the agreement to expand opportunity and improve protections for workers across North America. The resulting agreement offers crucial predictability and stability for Canadian businesses, investors, traders, workers, and innovators.”
Of course, as I noted earlier, Trudeau is trying to spin the absence of total disaster as somehow being the same thing as success:
“The reality is that the ‘wins’ Trudeau plans to claim are not ‘wins’ at all. Chapter 19 remains in place – which is simply the status quo. Supply management was not dismantled, while the U.S. gets more dairy access – which is the status quo plus a change in favour of the U.S. position.
There won’t be auto tariffs – but Canada had to agree to a cap on auto exports to the U.S. – which again is the status quo plus a change in favour of the U.S. position.
And steel & aluminum tariffs remain in place.”
Photo – YouTube