New trade deal in North America gives farmers hope for safer markets

Dairy farmers say new trade agreement with U.S. has ‘sold them out’

Maritime dairy farmers say they've been sacrificed

Among the benefits of USMCA that he touted with typical overkill (it's a "great deal" that "greatly opens markets", the President wrote) was one that didn't receive much attention at the time, but which has taken on more relevance as details of the agreement have come to be better understood.

The Retail Council of Canada said the deal will protect retailers against a "massive change in the competitive landscape".

What did he mean by that? The U.S. -Mexico-Canada Agreement, as the new Nafta is known, still needs to be ratified by the U.S. Congress and other legislatures before coming into force.

The former New Brunswick premier, who was ambassador to the United States in 2005 and 2006, said Trump alienated Canada for 14 months. The firm lowered its ratings for Chinese stocks from neutral to overweight, citing that the trade wars will heighten to a point where its economy is substantially impacted.

"To put it bluntly, President Trump's leadership is working; China wants a different American President", Pence added.

In an interview with Reuters published Friday, U.S. Commerce Secretary Wilbur Ross said the USMCA pact's "poison pill" provision to deter deals with China was a move to try to close loopholes in trade agreements that have served to legitimize China's trade, intellectual property and industrial subsidy practices.

This comes out of the blue, given that allegations of currency manipulation have not been a pressing issue during the lifetime of NAFTA.

"Going into elections, Trump has got to look like a strong leader and it helps to have an enemy overseas - this is a truism of global relations, " said Rosita Dellios, an associate worldwide relations professor at Bond University in Gold Coast, Australia.

The other part, article 10 of Chapter 32, is an even more direct reference to Mr. Trump's China crusade.

However, while Trump has claimed the renegotiation is a huge political and economic win for his "America first" approach, the final concessions are not as big as he had previously claimed possible, considering he had asserted that "we're going to make some very big changes or we are going to get rid of NAFTA once and for all".

While Canada's Liberal government said the new United States-Mexico-Canada Agreement (USMCA) agreement is good for Canada, the main opposition party questioned whether it is an improvement. They simply don't have the leverage.

"Our relationship with the United States, I think, remains to be fundamentally strong", he said.

"If I tell you that you are going to lose some of your business, you do not want to wait five years to find out what you are going to have as compensation to be able to manage your finances and knowing where you are investing", Bachand said.

The only people saying otherwise are Canadian officials, the Prime Minister included.

"They told me they were anxious", Trudeau said of his meeting with milk producers. "Now Canada has its hands tied".

Relations between the world's two largest economies have plummeted in recent weeks with Trump placing $250 billion in tariffs on Chinese goods, in part over charges that Beijing forces U.S. companies to hand over technological know-how. We still believe that.

Canadian dairy farmers met Prime Minister Justin Trudeau on Thursday to discuss his politically-risky move to open up the protected domestic market to USA industry but complained he had not given them details about compensation.

For the moment, that's not clear.

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