USMCA
What does USMCA stand for?
United States - Mexico - Canada Agreement
Which country was mainly experiencing trade deficits
Mexico
What does NAFTA stand for?
North American Free Trade Agreement
When was it put into place + by what leaders?
July 1st 2020
Donald Trump
Justin Trudeau
Enrique Peña Nieto
What was the main job concern?
outsourcing of manufacturing
What year was NAFTA put into place?
1994
What does Canada call USMCA?
CUSMA
What percent of automobile parts were to be made by workers?
75%
Which countries were included in NAFTA?
Canada
Mexico
United States
What does Mexico call USMCA?
T-Mec
What was the mandatory minimum wage?
$16
help move goods
And services more freely and strengthen
The economy in all three countries
What is currency manipulation?
Intentionally interfering with foreign trade to increase or decrease the value of your countries dollar.
Why did negotiators add a new chaper to the USMCA?
Because the original one (NAFTA) pre-dated digital trade.
What are (at least) two benefits created by NAFTA?
Increased trade/exports
Created jobs
Lowered prices of goods for consumers
Strengthened economies
Encouraged growth/modernization in mexico
Helped north america compete with other large economic regions
Improved business efficiency