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Email this11:17 pm
October 29, 2017
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The renegotiation of NAFTA is now done. The new agreement is called USMCA or United States Mexico Canada Agreement. This should strengthen the economy and bolster inflation, which means higher interest rates for us!
4:27 pm
October 21, 2013
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Our dairy farmers won't be happy.
But nothing compels us to buy US dairy products.
I read that Trump insisted on this new name, where he had to put "US" first (of course), making the acronym all but unpronounceable. If they'd put the countries in alpha order, we could have had a very pronounceable "CAMUS".
4:37 pm
December 17, 2016
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What does "CAMUS" stand for?
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Arithmetic and geography always lag in school testing - the US is the DOMINANT player in this agreement with a population north of 325,000,000.
9:24 pm
October 29, 2017
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Loonie said
Our dairy farmers won't be happy.
But nothing compels us to buy US dairy products.I read that Trump insisted on this new name, where he had to put "US" first (of course), making the acronym all but unpronounceable. If they'd put the countries in alpha order, we could have had a very pronounceable "CAMUS".
It's US-MCA in following Y-MCA. NAFTA was a hundred times better sounding.
Dairy in Quebec has been coddled far too long. I would have given the US more than the scrimpy 3.6% or whatever it was Trudeau gave up. We easily won this new deal because the dispute mechanism, cultural exemption and auto export cap are all still in place.
12:13 am
February 17, 2013
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I agree...USMCA doesn't sound right.
Could go Geographically north to south:
Canada US Mex Agreement - CUSMA or CUSAMA (too close to Obama..LOL)
South to North
Mexico USA Canada Agreement MUSACA
or
MACA or MACTA
or alphabetically:
American Canadian Mexican Agreement ACMA
I like New NAFTA.
4:11 am
December 17, 2016
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Vatox said
We easily won this new deal ...
REALLY ... and billions upon billions of hard-earned taxpayer dollars continue to flow to the dairy cartel in compensation ... so, so little regard for taxpayers.
4:59 am
February 27, 2018
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Did we win?
Part of this new trade agreement... the American government needs to approve trade agreements canada makes with other countries. So say canada makes a trade deal with China and the States don't like this trade deal? The American government has the power to veto the canada, china deal.
If canada then went forward with the trade deal with China. Our trade deal with the states could be cancelled.
Now, why is this important?
Trudea just paid $4.5 billion to kinder morgan (Texas) for a pipe line. The proposed new pipe line to the BC coast was intended to sell Alberta's oil to China. Alberta's oil currently goes to Texas to be refined. Esso aka Exxon (Texas).
Now we need to talk oil prices... WTI is the price normally quoted for oil, (wti means west TEXAS intermediate). $75 us per barrel.
Alberta gets paid the WCS price for their oil, (wcs means western canada select). The prices for wcs oil is $30 us per barrel. So the Americans get our oil at one hell of a discount.
Will Trump allow canada to sell oil to china? The answer is... NO.
https://oilprice.com/oil-price-charts
https://ca.finance.yahoo.com/news/ready-canada-heavy-oil-crisis-203054957.html
5:04 am
September 11, 2013
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Guess we'll see, but it's doesn't seem to be freer trade than before - Trump and Trudeau are both locavores, looking to protect certain domestic interests (unions, farmers, etc). There's now a cap, albeit higher than now, on auto exports to USA from Canada tariff-free so I'd guess future investment (new plants, expansions) will be going south to avid any future cap issues.
5:51 am
September 7, 2018
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Loonie said
Our dairy farmers won't be happy.
But nothing compels us to buy US dairy products.
We will be "compelled" to buy US dairy products assuming they are cheaper than the equivalent Canadian products. I am sure most of the readers here who look for the best price/highest interest rates on their savings will buy the (lower priced assumed) US products.
8:20 am
September 11, 2013
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Kidd, "Trudeau just paid $4.5 billion to kinder morgan", really!? That's great news, I hadn't realized he was paying that personally!
8:23 am
February 4, 2017
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OMG!
The Canadian consumer might get a break on dairy, wine, and cross border shopping. This is unspeakable in the land of monopolies.
9:13 am
October 29, 2017
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Top It Up said
REALLY ... and billions upon billions of hard-earned taxpayer dollars continue to flow to the dairy cartel in compensation ... so, so little regard for taxpayers.
We already had that! This deal was about trade not about internal government spending policy and wastage.
9:21 am
October 29, 2017
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Bill said
Kidd, "Trudeau just paid $4.5 billion to kinder morgan", really!? That's great news, I hadn't realized he was paying that personally!
That pipeline purchase was a huge blunder. Agreed. It will most likely be sold back for less and the construction costs a complete loss. I figure the total cost will be $10 billion and the sale will be much lower.
But that has nothing to do with the new trade deal!
9:36 am
February 27, 2018
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Sorry Vatox... oil is the trade deal.
Under this new usa/canada trade deal, the states can and will dictate who canada can and will do business with. If a nation has been deemed unfriendly to the interests of the states.... canada will NOT be allowed to do business with such nation.
The whole idea of a pipe line to the BC coast, is/was to sell oil to china. Believe it or not... trump doesn't like china.
9:45 am
December 17, 2016
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Sorry Vatox... dairy is the trade deal.
In fact it was one of the main sticklers of the new deal - instead of dismantling the dairy cartel the government has chosen to give in to the US demands and will continue to subsidize the cartel ... so, so little regard for hard-earned taxpayer dollars.
11:05 am
February 27, 2018
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Sorry Vatox... the deal was NOT about the auto industry.
Let's beat this dead horse some more.
The USA/canada trade deal was NOT about GM canada. GM Oshawa had over 20,000 production employees not that long ago, today that number is well below 2,000. Pretty well ALL of General Motors has already left canada for greener pastures. I spent 30 years working there, and they are now a mere shadow of what they once were. The union (unifor) post a production number of 1,767. i would have to inquire but i believe they are grossly exaggerating that number, by maybe 500. i would say, 1,200 to 1,300 production employees currently work at GM oshawa.
http://local222.ca/the-oshaworker/
12:04 pm
October 29, 2017
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Kidd said
Sorry Vatox... oil is the trade deal.Under this new usa/canada trade deal, the states can and will dictate who canada can and will do business with. If a nation has been deemed unfriendly to the interests of the states.... canada will NOT be allowed to do business with such nation.
The whole idea of a pipe line to the BC coast, is/was to sell oil to china. Believe it or not... trump doesn't like china.
Lol, you don't need a trade agreement to sell products, only a willing buyer. Furthermore, Trump's own sunset clause destroys any so-called dictation he may have under this deal. The US has always had clout because of money and economy size, that hasn't changed.
The points I have been making in this thread, are about what could have been lost. I say we won, because we could have been completely screwed and yet we came out with more than we had under NAFTA. I would really like to hear what we lost that we had before.
12:35 pm
October 29, 2017
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Top It Up said
Sorry Vatox... dairy is the trade deal.In fact it was one of the main sticklers of the new deal - instead of dismantling the dairy cartel the government has chosen to give in to the US demands and will continue to subsidize the cartel ... so, so little regard for hard-earned taxpayer dollars.
You are confused. No way was 3.5% of a market population the size of California, the foundation of a year long negotiation.
12:36 pm
September 11, 2013
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Unifor chief Jerry Dias was right there alongside Freeland the whole time, I thought that might have something to do with automotive, maybe I was wrong.
12:53 pm
December 17, 2016
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Vatox said
You are confused. No way was 3.5% of a market population the size of California, the foundation of a year long negotiation.
Well, I am confused - if dairy ain't that big a deal there should be absolutely NO need for compensation and yet, we get this from Trudeau and Freeland -
When asked how he can insist that supply management is protected under the deal when Canada has agreed to eradicate its pricing classes, Trudeau attempted to soften the blow.
“We have made modifications to the way it works. But we also know that it is something that will ensure the viability and the strength of supply management for years to come.”
Later, in response to another reporter’s question, Trudeau conceded that the concessions made on dairy were not “ideal.”
Both Trudeau and Freeland insisted Monday that dairy, egg and poultry farmers will be compensated accordingly.
“Our supply management producers will be fully compensated, because that is the fair thing to do,” Freeland said. Discussions about compensation have already started, she said.
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