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Kind of a side topic of all this, but I find it oddly fascinating to see the POTUS taking a conference call from the Oval Office on live TV. Has that ever been done before?
The 5 year sunset clause was the only condition that kept a three way deal from being signed in May.
That's right -- they were within a day of signing the whole deal off and Pence came up with the 5 yr. renegotiating condition. Canada & Mexico said no way and walked.
Because yes -- it takes almost a year just to negotiate the new deal -- that's in a sense renegotiating every four years. That's not nearly enough time to even realize the impact of the pre-existing deal.
Folks have a naive view that changes in this kind of a deal are made immediately -- same with expansion plans.
This stuff can take some time to make adjustments.
If corporations make adjustments based on one deal and four years later they are in upheaval again -- what does that do for corporate planning.
Corporate planning is done annually if not more frequently than that.
But this isn't corporate planning.
I don't know what the magic number is but there is a real danger to locking something in for 10-12 years and as you've noted doing it too frequently is a waste of time and effort.
Real world example was the long-term store leases that Sears made decades ago that pretty much helped bury them.
I totally agree with your other comment that this is a pre-victory lap meant to distract from the other issues going on even though nothing has been finalized yet.
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Quote:
Originally Posted by dothetwist
It's a better deal for MX than they had hoped for. trump whined and whined that it ABSOLUTELY had to have a Sunset Clause in 5 years. Guess what...no such clause in the deal. Winning!
And so far only 2 sided. Canada out of talks for past 3 weeks. Definitely not a done deal.
Sounds like the N Korean 'deal'. Is a pattern developing?
Interesting. So we want to be able to dictate minimum wages in other countries but it is ridiculous to have federal minimum wages in the USA. Okay -- digesting that......
From what I have seen the 16/hr. is the minimum wage. I don't have a problem with that -- but all that will do is raise the cost of production.....which raises the cost of the final product.
So we will see price increases.
Hmm -- long term - not sure how that pans out.
"In order to qualify for tariff-free status in the North American market, the United States is pushing for 40% of the content of cars and 45% of the content of pickup trucks to be made by workers who are paid at least US $16 per hour. That’s more than five times the US $3 per hour that many auto sector workers in Mexico currently earn." https://mexiconewsdaily.com/news/aut...n-nafta-talks/
What it will do is remove automaker incentives to shift production to Mexico to make cars with slave labor then sell them to Americans, thus creating or preserving American jobs. And for the jobs that remain in Mexico that will ripple through the Mexican economy, creating downstream jobs there and reducing pressure to illegally immigrate to USA.
There's only one reason manufacturers shift production out of the country - to save money. That savings is usually due to cheaper labor and less regulations. Trump is attacking both fronts.
Do you want American manufacturing jobs or not? If so, the workers have to be paid and their pay comes from the price of the car. The path we have been on - sacrifice our jobs for the sake of cheaper goods - doesn't seem to have worked well in my opinion.
A Mexican official told CNBC on Monday that trade talks with the U.S. have wrapped up, adding that an announcement could come later in the day. Officials were in Washington trying to hammer out the details as the Trump administration pushes to remake the 1994 agreement between the U.S., Mexico and Canada. There was some hope that a new NAFTA could be solidified before Mexico's government turnover on December 1.
Trump has been condemned mightily by his critics for these tariffs. It seemed no one was willing to take a wait and see position, or to give the president a chance to negotiate. Now we see that his very aggressive rhetoric and unorthodox style was just the way he negotiates.
Will Trump's critics temper their rhetoric now, and give him the benefit of the doubt that he knows what he is doing, and is following a plan? Or will they stick to hating him, and condemning everything he does, even if they are actively working against America's interests?
No one even knows what the details are, and yet, you approve of it?
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They say NAFT is dead and there is a new name to replace it.
What's that saying about a pig in lipstick?
Let's see what is actually in there. If it is merely "Mexico will pay its workers more." That's a win for Mexican workers. MMGA? And since Trump is the best negotiator in the world, it is safe to assume that Mexico is writing the US a check for 30B or whatever for the wall, right?
Sounds like the N Korean 'deal'. Is a pattern developing?
That "deal" left things way worse than they were. China and Russia supplying NK. US Military has hands tied. Kim laughing his a$$ off.
And now this administrative 'deal' with Mexico. No legal standing. Just an "understanding".
We have a legal deal with Mexico currently in place. That stays until Congress votes. The timing means that the new Congress will vote on this, and with no details on the Mexico Admin Agreement there is nothing to comment on.
Listening to the blowhard talking about the biggest, the greatest, the most world shattering 'deal' was pretty clear that is it a nothing burger.
Another Trump mess. Nothing to see here, other than chaos. Move along.
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