[Zagadka]

So, as I've said elsewhere, I'm very satisfied with the new agreement. I also appreciate the humor that Trump insisted on a $16 minimum wage for Mexican auto workers. I was worried when Trump said he'd "tear up" NAFTA, but he really just refined it pretty well. It is almost reminiscent of TPP.

News coverage has been pretty limp, so this is the best quick overview of changes from NAFTA. I would normally never use Vox as a source.

https://www.vox.com/2018/10/3/17930092/ ... -explained

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 have to be made by workers who earn at least $16 an hour by 2023. Mexico has also agreed to pass laws giving workers the right to union representation, extend labor protections to migrant workers, and protect women from discrimination. The countries can also sanction one another for labor violations.
US farmers get more access to the Canadian dairy market: The US got Canada to open up its dairy market to US farmers, which was 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.
It also includes new provisions to deal with the digital economy, including prohibiting duties on things like music and e-books, and protections for internet companies so they’re not liable for content their users produce.

No section 232 tariff protections: Section 232 is a trade loophole that Trump has used to impose steel and aluminium tariffs on Canada, Mexico, and the European Union. Both Canada and Mexico wanted protections from these tariffs, but they didn’t get them. They did get the US to make a side agreement that protects them from possible auto tariffs under 232, though.
Sunset clause: The agreement puts in a 16-year “sunset” clause — meaning the terms of the agreement expire, or “sunset,” after a set period of time. The deal is also subject to a review every six years, at which point the US, Mexico, and Canada can decide to extend USMCA.

This is also a decent overview of effects

https://www.washingtonpost.com/business ... aea695bd02

From a labor and business point of view, it is very solid. Costs will raise a bit, but decent protections are gained.

[blackjack21]

I also appreciate the humor that Trump insisted on a $16 minimum wage for Mexican auto workers.

Do you recall me advocating for that position? If Trump wanted to stop the labor arbitrage, he should campaign for higher wages for Mexican workers (and Chinese workers as well). I'm just wondering if you recall hearing it from me first.

News coverage has been pretty limp, so this is the best quick overview of changes from NAFTA.

It's a major victory for Trump. Of course the media will not report it. Not to worry. Trump will take that message directly to voters.