One simple question. Trump is not in office yet. Why can’t Biden make a 5 year trade accord with Mexico and Canada to circumvent trump’s tariffs to protect the American consumer?
There is so much Biden can do before he leaves office to protect us. Why isn’t he acting?
DOES ANYONE HAVE THE INFLUENCE TO PLANT THIS BUG IN BIDEN’s EAR???
From my very lazy research:
The United States-Mexico-Canada Agreement (USMCA), effective since July 1, 2020, governs trade among the three nations and is set for review in 2026, allowing for potential amendments. Introducing a new trade agreement before this review would be challenging due to the legislative processes involved and the time required for approval by all three countries. The Biden administration has focused on strengthening trade within the USMCA framework, including efforts to reduce inflation and improve supply chains. While new trade measures could address future tariffs, the existing USMCA framework and procedural complexities make swift implementation unlikely.
@eagle1 The United States-Mexico-Canada Agreement (USMCA) won’t stop Trump’s tariffs. If Trump is going to do tariffs, he’s just going to do it regardless of the agreement. The federal government and the provinces are curently preparing to protect the industries to be affected, and Canada will impose retaliatory tariffs, pretty much exactly what happened last time.
This time, if Canada’s leaders have any brains, they will start looking at addressing the additional regulatory and supply-chain hurdles involved with increasing trade to nations other than the US. Trump doesn’t seem to understand that while a trade war with Canada will hurt both Canada and the US, the harm is not proportional. If Canada increases its global trade, it will be quite difficult for Canada for the short term, but eventually it will be business as usual for Canada again.
Not quite so for the US, as the US imports 28% of its steel, and 60% of its aluminum from Canada, as an example. If Trump decides to play chicken with Canada, Canada is fully capable of just turning away and deciding to get more reliable trade partners. It will be MUCH harder for the US to do such a thing immediately after metaphorically punching everyone in the face.
Long story short: It’s going to suck for us Canadians. It’s going to be really bad for Americans if Canada decides it doesn’t want to be punched in the face ever again. So I am REALLY sorry if this happens.
@eagle1 Everyone should take anything Dan Ujczo says concerning this matter with a grain of salt, considering his law practice is essentially based upon Canadian-US trade, and his interests lie in Canada immediately giving in to US demands, instead of Canada considering its options
I still believe there are things that a lame duck president can do to strengthen trade relations before the new administration.