How is this new USMCA (Am-Mex-Can) trade deal better than NAFTA? (companies, property)

[NJ Brazen_3133]

How is this new Can-Am-Mex trade deal better than NAFTA?

https://www.vox.com/2018/10/3/179300...deal-explained

About the auto parts, does it mean, US will see a return of manufacturing? Isnt that bad for Mexico? Canada Dairy Markets now open to US Dairy farmers. Is that bad for Canada?

Apparently NAFTA, the one Clinton signed hurt american manufacturing, and hurt Mexican farmers (that is what I heard). In a Trade deal, any deal, I guess some people on both sides will be hurt no matter what.

What is the point really? Unless each country has something the other does not have, like maybe goose feathers, or agave plants for tequila.

[Chaminade]

Originally Posted by NJ Brazen_3133

How is this new Can-Am-Mex trade deal better than NAFTA?

https://www.vox.com/2018/10/3/179300...deal-explained

Hopefully the replies will be limited to those from shoe salesmen, nail ladies, and celebrities and no Economics PhDs reply.

[NJ Brazen_3133]

Originally Posted by Chaminade

Hopefully the replies will be limited to those from shoe salesmen, nail ladies, and celebrities and no Economics PhDs reply.

But why celebrities and no econ PhDs?

[robr2]

Here are the biggest changes taken from this:

Originally Posted by vox.com

Here are the biggest changes:

Country of origin rules: Automobiles must have 75 percent of their components manufactured in Mexico, the US, or Canada to qualify for zero tariffs (up from 62.5 percent under NAFTA).

Labor provisions: 40 to 45 percent of automobile parts must be made by workers who earn at least $16 an hour by 2023. Mexico passed new labor laws to give greater protections to workers. Democrats still want tougher enforcement, though.

US farmers get more access to the Canadian dairy market: The US got Canada to open up its dairy market to US farmers, a big issue for Trump.

Intellectual property and digital trade: The deal extends the terms of copyright to 70 years beyond the life of the author (up from 50). It also extends the period that a pharmaceutical drug can be protected from generic competition, and includes new provisions to deal with the digital economy, such as prohibiting duties on things like music and e-books, and protections for internet companies so they’re not liable for content their users produce.

Sunset clause: The agreement adds a 16-year “sunset” clause — meaning the terms of the agreement expire, or “sunset” after 16 years. The deal is also subject to a review every six years, at which point the US, Mexico, and Canada can decide to extend the USMCA.