Friday, November 30, 2018

New Signed Canada-Mexico Trade Deal With US; Tariffs Remain in Place

President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new U.S. Mexico Canada Agreement — or USMCA — in Buenos Aires this morning at the G20 Summit.

"Let's go," all three leaders said as they sat alongside each other to sign multiple copies of the deal.

But don't for a minute think this is a free trade agreement.

Trump's US Anti-Trade Representative Robert Lighthizer proudly told reporters after the USMCA signing ceremony:
The steel and aluminum tariffs do continue....We want an agreement that’s fair to Mexico and fair to Canada but maintains the integrity of the president’s steel and aluminum programs.
Bottom line economic ignorant policy that fails to consider comparative advantage continues.


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