President Donald Trump on Wednesday signed the new North American trade pact with Canada and Mexico into law, pronouncing a \u201cglorious future\u201d for US industry.<\/p>\n\n\n\n
It was another opportunity for Trump to tout successes in the midst of an impeachment trial where he is fighting charges of abuse of office and obstructing Congress. On Tuesday he announced a Middle East peace plan rejected immediately by the Palestinians and earlier this month he signed a truce in his trade war with China.<\/p>\n\n\n\n
Economists say that overall NAFTA increased growth and raised the standard of living in North America, binding the three countries in a complex web of trade rules and services.<\/p>\n\n\n\n
But the new deal does change content rules on auto manufacturing, to boost US jobs, and requires higher salaries for some Mexican auto workers.<\/p>\n\n\n\n
But even if the new USMCA trade deal with America\u2019s neighbors was crafted in close consultation between Trump\u2019s Republicans and the Democrats, the president pointedly didn\u2019t invite any of the Democratic leaders to his big White House signing ceremony.<\/p>\n\n\n\n
Analysts say USMCA retains many elements of NAFTA, a mammoth deal that created a free trade zone across all of North America, shaking up entire industries and supply chains.<\/p>\n\n\n\n
It also makes changes to e-commerce, intellectual property protections and dispute settlement for investors, as well as imposing tougher labor provisions, requiring reforms to Mexico\u2019s laws.<\/p>\n","protected":false},"excerpt":{"rendered":"
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