livingston
20×102mm Vulcan
Justin from Canada Painted His Country Into a Lose/Lose Trade Corner – More Details of U.S-Mexico Deal…
By choosing politics over fundamental trade economics Justin and Chrystia from Canada have painted themselves into an isolated position on the renegotiated North American Trade deal. Here’s the basic Canadian conundrum.
The U.S. and Mexico have agreed to manufacturing origination terms; wage and labor improvements; elimination of AG subsidies and non tariff barriers; and removal of all protectionist tariffs – so long as the structural terms of commerce are upheld.
In order for Canada to join the U.S. Mexico deal they would need to:
Therefore, absent total acquiescence, it is likely Canada will keep their soft-wood lumber subsidies, keep their protectionist Dairy tariffs, keep their banking rules blocking U.S. access, and face a 25% duty on U.S. auto imports – effectively destroying their auto manufacturing sector. Car companies (ex. Toyota) will simply leave Canada and return to building/assembling in the U.S.
Here’s the content from a conference call filling in more details:
More at ...
Justin from Canada Painted His Country Into a Lose/Lose Trade Corner – More Details of U.S-Mexico Deal…
By choosing politics over fundamental trade economics Justin and Chrystia from Canada have painted themselves into an isolated position on the renegotiated North American Trade deal. Here’s the basic Canadian conundrum.
The U.S. and Mexico have agreed to manufacturing origination terms; wage and labor improvements; elimination of AG subsidies and non tariff barriers; and removal of all protectionist tariffs – so long as the structural terms of commerce are upheld.
In order for Canada to join the U.S. Mexico deal they would need to:
- (1) eliminate soft-wood subsidies in the lumber sector;
- (2) eliminate protectionist tariffs in the AG (Dairy) sector;
- (3) accept the 75% rules of origin, eliminating the NAFTA loophole;
- (4) agree to the enforcement mechanisms for all the above;
- (5) allow U.S. banks to operate in Canada (financial sector).
Therefore, absent total acquiescence, it is likely Canada will keep their soft-wood lumber subsidies, keep their protectionist Dairy tariffs, keep their banking rules blocking U.S. access, and face a 25% duty on U.S. auto imports – effectively destroying their auto manufacturing sector. Car companies (ex. Toyota) will simply leave Canada and return to building/assembling in the U.S.
Here’s the content from a conference call filling in more details:
More at ...
Justin from Canada Painted His Country Into a Lose/Lose Trade Corner – More Details of U.S-Mexico Deal…
- fuck'em.
