North America Free Trade Agreement
The Intellectual Property Chapter of the revised NAFTA, rebranded by the Trump Administration USMCA, includes provisions that threaten to undermine critical efforts towards affordable health care and medicine.
US President said on he will give formal notice to the US Congress in the near future to terminate NAFTA, giving six months for lawmakers to approve the revamped trade deal.
It is unrealistic to expect even the most gold-plated labour provisions in FTAs to redress the vast power imbalance between workers and gigantic, internationally mobile corporations.
Members of 70 different groups joined forces to call attention to a range of concerns, from workers’ rights to climate change.
The USMCA replaces the North American Free Trade Agreement, which had created a free trade zone between the three countries back in 1994. The deal will require ratification by all three countries’ legislatures before taking effect.
With roughly three hours to go before boarding a flight to Argentina for a meeting of G20 leaders, Prime Minister Justin Trudeau said this afternoon Canada is "still in discussions with the Americans" about signing the revised NAFTA at the summit.
The new North American Free Trade Agreement, which binds Canada, the United States and Mexico, will be signed on the margins of the G20 summit in Buenos Aires
A US coal miner is launching a NAFTA suit against Alberta over its policy to phase out coal in the electricity system by 2030.
International Trade Minister Jim Carr says China’s interest in so many Canadian products could ultimately lead to a comprehensive trade deal.
Canada is pushing back against US attempts to change the text of their September trade pact and the issue may have to be referred to ministers to settle.
The deal will be signed on Nov. 30 in Buenos Aires, Argentina during the G20.
Canada’s negotiators extended data protection on biologics without knowing impact on prices.
Dairy Farmers of Ontario spokesperson said the agreement by Canada to end the Class 7 pricing on some Canadian-produced milk ingredients, like protein concentrates, skim milk and whole milk powder, is a concern.
It is deeply concerning, though not surprising, that the proposed United States-Mexico-Canada Agreement (USMCA) has at least three chapters that formally entrench corporate influence on government decision-making.
US-Canada ISDS is terminated; expansive investor rights eliminated and new review procedures mostly replace ISDS between US and Mexico.
Unverified rumours circulated in early 2018 that Canada was willing to abandon NAFTA’s provisions entitling foreign investors to sue for damages under what is called investor-state dispute settlement, or ISDS.
Investor-state dispute settlement was tempered in the USMCA, but the government needs to justify why it persists asking for it in other agreements.
US Treasury Secretary Steven Mnuchin says that Washington wants to include a provision to deter currency manipulation in future trade deals, including with Japan, based on the currency chapter in the new deal to revamp NAFTA.
Is USMCA “brand new”? Or is it simply Reagan/Bush/Clinton’s NAFTA with a heavy dose of President Obama’s TPP thrown in the mix, just a rose by another name?
Experts are fuming, saying USMCA will hamper Canada’s innovation economy and hike costs to the health care system over patented drugs.