Thursday, November 7, 2024

Trudeau ready to meet Trump (and Mexicans) to renegotiate USMCA

During President Trump's first term, the US of A entered into negotiations with Canada and Mexico to renegotiate the North American Free Trade Agreement (NAFTA), which the President called a "terrible deal". While the Donald frequently expressed his love for Canada, he took aim at Prime Minister Blackie McBlackface, calling him "two faced", "weak", and a "far-left lunatic."

The result was the U.S.-Mexico-Canada Agreement (USMCA), which replaced NAFTA, effective in 2020. 

This past August, as the campaign for the 2024 election started to heat up, President Trump said, "I terminated NAFTA. That's a pretty big thing. A lot of people said it would be impossible to do. I got it done, and we have a great deal now. What we have to do is make it much better even, and we'll be able to do that very shortly."

Just three weeks prior to his landslide victory, President Trump vowed to renegotiate the USMCA.  "I am announcing today that upon taking office, I will formally notify Mexico and Canada of my intention to invoke the six-year renegotiation provisions of the USMCA that I put in," he told the Detroit Economic Club.

The USMCA agreement is up for review on its sixth anniversary [not "six-year anniversay"! Ed.], when the three countries will have to confirm in writing if they wish to extend the pact or re-evaluate it. "That was the hardest thing I had to get, they didn't want that," Mr Trump said of the unique review clause. "I said, 'Nope, I want to be able to renegotiate in six years, otherwise we're not making the deal.' And I got it, and it's coming due very soon. Oh, I'm going to have a lot of fun." 

President Trump said he wanted to better protect and promote the American auto industry, which has long been centred in Detroit. "I'll also seek strong new protections against transgender ["transshipment" shurely, Ed.] so that China and other countries cannot smuggle their products and auto parts into the United States tax-free through Mexico to the detriment of our workers and our supply chains. They smuggle this stuff in. They don't pay anything. We're going to have very strong language on that."

Car-makers and car-buyers, stay tuned!

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