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Donald Trump’s new USMCA – Trade deal between the US, Canada and Mexico

Nikhil Singh Rathaur

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Donald Trump's new USMCA - Trade deal between the US, Canada and Mexico

On October 1, 2018, the US President Donald Trump announced a new trade agreement with neighboring countries, Canada and Mexico, bringing an end to the previous North American Free Trade Agreement (NAFTA). Trump risked enough, economically and politically, to rebrand NAFTA as USMCA. This would increase the number of jobs in America and revive the manufacturing sector in the United States.

Donald Trump's new USMCA - Trade deal between the US, Canada and Mexico

Donald Trump’s new USMCA – Trade deal between the US, Canada, and Mexico

The NAFTA (North American Free Trade Agreement) is an agreement signed by the United States, Mexico, and Canada. It creates a trilateral intergovernmental agreement where barriers to trade are reduced or eliminated among the participating states in North America. The agreement came into force on 1st January 1994. It is now set to be replaced by the 2018 United States – Mexico – Canada Agreement (USMCA).

Donald Trump's new USMCA - Trade deal between the US, Canada and Mexico

President Donald Trump speaks about the new USMCA on October 1, 2018.

Brief on the Trade deal:

On autos, Canada can export up to 40 percent more than what they currently export, that is 2.6 million vehicles to the U.S. tariff-free. But steel and aluminum tariffs will stay in place a win for US President Trump. Canada managed to keep the chapter 19 dispute resolution which allows this government to challenge punitive tariffs on products like softwood before special trade tribunals. This is a big win for Trump and could cause trouble for Trudeau. The liberals call the agreement a good deal.

According to the agreement, the deal will be reviewed in six years. Adding to it, if all the three countries agree on whether the deal is effective, it will be finalized for the full 16-year period. The provisions are expected to come to existence by 2020, once the leaders from the countries sign it and the legislatures give their approval.

Comparison between old NAFTA and USMCA

1- Dairy Market

Dairy Market

Dairy Market

Under NAFTA, Canada was able to limit the supply of milk and dairy products to be brought in from the United States. However, the USMCA gives the US more access to Canada’s dairy market. Also, new quotas will be set that is expected to increase market access for US farmers.

The new trade agreement was criticized by the dairy farmers of Canada, claiming that the livelihood of Canadian dairy producers is put to risk.

Because of the new quotas set by Canada for the US, there will be an increase in the market access for US dairy, eggs and poultry, in the return of which the US will allow more Canadian peanuts, peanut products and dairy and a limited amount of sugar.

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2- Automobile manufacturing and Labor Provisions

Automobile manufacturing and Labor Provisions

Automobile manufacturing and Labor Provisions

Two provisional changes could benefit car manufacturing workers from all the three countries and implement investment in the North American Industry.

Firstly, the USMCA requires that 75 percent of the automobile parts be made in any of the three countries. The difference is recorded to be 12 percent higher than the original NAFTA.

Secondly, the automobile machines should have a minimum of 30 percent of the manufacturing done by workers earning approx $16 an hour.

3- Intellectual Property Protection

Intellectual Property Protection

Intellectual Property Protection

NAFTA has negotiated around 25 years ago so it didn’t really deal with the digital economy. The USMCA aims to fix this by adding new provisions like music or e-books, data and e-commerce and protections from internet companies- all of this including no duties on the purchase.

This new provision contains stricter protections for patents and trademarks across categories, including domain names.

According to the new agreement, the terms of Copyright extends from 50 years to 70 years beyond the life of the author. Increased protections for biologics, certain types of drugs, from eight years to 10 years is also offered.

It is a win for the United States.

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4- Governments cannot be sued by Investors

A provision from Chapter 11, in the NAFTA, gave investors and companies the ability to resolve disputes or sue governments over changes to policies that would harm future profits. However, it’s been eliminated from the US and Canada due to critics. It has been restricted in Mexico except for few sectors. So under USMCA, this provision from Chapter 11 applies to a few major industries like oil.

5- Sunset clause

The agreement puts in the trade pact for 16 years “sunset” clause after a set period of time. The United States, Mexico and Canada will be required to meet every six years to decide the deal. The deadline could be extended if all the three countries agree to extend it or renegotiate the trade pact.

 

Is it a win for the Government?

It is important to remember that during this negotiation, President Trump was quite clear about his will to end free trade. The government was able to maintain cultural exemptions, chapter 19, issues with respect to dairy, Supply management and tariffs aluminium will be an important obstacle for the Government in the coming months. It is a victory for American Industries and workers. Trump has turned the fantasy into a successful campaign.

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After 90 years Canada legalizes cannabis for recreational use

Asfia Kulsoom

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After 90 years Canada legalizes cannabis for recreational use

On 17th October, Canada became the first industrialized nation to legalize recreational cannabis. Canada’s Prime Minister Justin Trudeau’s acting on his 2015 election promise paved the way to legalization of cannabis in his country making it the second country in the world to legalize cannabis after Uruguay.

 

After 90 years Canada legalizes cannabis for recreational use

source: www.bbc.com

 

Canada’s upper house of parliament approved the revised bill when the Senate voted in favor of the bill by 52-29, from the elected house of commons. After a long battle, Justin Trudeau’s liberal government managed to legalize marijuana after introducing the legislation last year. As for medical marijuana, it has been legal in country since 2001. In about 8-12 weeks new marijuana marketplace will be set up.

source: www.bbc.com

PM Justin Trudeau on many occasions have voiced against the criminalizing marijuana arguing that a nearly century-old criminalization of the drug has been ineffective since the country falls among the worlds heaviest users of the drug. “we are not legalizing cannabis because we think it’s good for our health. we are doing it because we know, it’s not good for our children.”, he also said that “we need to do a better job to protect our children or to eliminate or massively reduce the profits that go to organized crime.” according to the rules, adults will now be able to buy cannabis oil, seeds, plants and dried cannabis from licensed producers and retailers. And can now be able to possess up to 30 grams in public. as for the restrictions, it will be illegal to grow more than 4 plants per household or buy from an unlicensed dealer. The penalty for getting caught selling the drug to a minor is jail for 14 years. According to Trudeau’s government, these new rules will reduce crime and prevent underage consumption of the drug.

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Opposite to the views of Justin Trudeau, Canada’s previous PM Stephen Harper had always been very vocal about his favor for the criminalization of the marijuana saying “legalizing cannabis is the wrong direction for the society and causes more addiction and greater use by children.”. Among his numerous outburst on the subject, he once said “there’s just overwhelming and growing scientific and medical evidence about the bad long-term effects of marijuana. We’ve spent a couple of generations trying to reduce the usage of tobacco in Canada with a lot of success. Tobacco is a product that does a lot of damage. Marijuana is infinitely worse and it’s something that we do not want to encourage. On his clash with the then Liberal leader Justin Trudeau, Harper said “if we sell marijuana in stores like alcohols and tobacco, that will protect our children? No one believes that”. to which Trudeau replied ” the reality is that we have kids who find it easier to buy marijuana than cigarettes and beer. If a young person buys marijuana, it’s because he had contact directly with a criminal. We will continue to control marijuana like cigarettes and alcohol, not to sell them in corner stores”.

Soon after it’s legalization Ian power became the first man in the country to buy the drug legally. “Prohibition has ended right now. we just made history.” said the 46-year-old citizen. “I can’t believe we did it. all the years of activism paid off. Cannabis is legal in Canada, and everyone should come to Canada to enjoy Cannabis”.

However, this policy has created a problematic situation for the US and Canada have been posting out the signs to warn the travelers that crossing borders with the drug are still illegal.

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List of Power Ball Winners and Their Reactions 2018

Rajesh Khanna

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Power Ball Winner Numbers

Power Ball Winner Numbers: Much Like the Mega Millions lottery game jackpot, the Powerball prize is expanding. Without total champion in Powerball’s Wednesday evening’s 10/17/18 illustration, the Powerball jackpot is currently worth $430 million for the upcoming Saturday making use of 10/20/18

#Draw DateJackpot PrizeWinnerState
183August 11, 2018$245.6 MillionThe Sea & Sand Trust (Nandlall Mangal)New York
182June 20, 2018$150.4 MillionSteven NickellOregon
181May 19, 2018$315.3 MillionTayeb SouamiNew Jersey
180March 24, 2018$55.9 MillionThe Moose Family TrustLA
179March 17, 2018$456.7 MillionEmerald Legacy TrustPennsylvania
178January 06, 2018$559.7 MillionGood Karma Family 2018 Nominee TrustNew Hampshire

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Power Ball Winner Numbers: Powerball jackpot is Now $345Million Dollars

Rajesh Khanna

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Power Ball Winner Numbers

Power Ball Winner Numbers: Much Like the Mega Millions lottery game jackpot, the Powerball prize is expanding. Without total champion in Powerball’s Wednesday evening’s 10/17/18 illustration, the Powerball jackpot is currently worth $430 million for the upcoming Saturday making use of 10/20/18

Are you seeming like a fortunate champion? If so, currently might be a great time to get a ticket if you intend to take the threat because the consolidated Huge Millions, as well as Powerball rewards for America’s biggest lottery games, are currently worth greater than $1.3 billion. The following illustration is Friday evening’s Huge Millions prize, worth an approximated $900 million (money alternative $513 million).

Wednesday’s Power Ball Winner Numbers last evening (10/17/18) were:

Winning numbers: 3-57-64-68-69

Powerball: 15

Power Play: 3

Despite The Fact That there was no Powerball jackpot winner Wednesday evening, there was a $2 million champion in Florida that had a suit 5 plus a Power Play, as well as a number of $1 million victors matching the 5 white winning numbers in Kentucky, Massachusetts, as well as New Jacket.

Exactly how hard can it be to select 6 poor numbers?

Well, exactly how around 302,575,350 to 1. Those were the chances on Tuesday evening, which assists clarify why nobody got hold of the Huge Millions prize.

If had your heart established on Powerball on Wednesday evening, you absolutely had a much better opportunity, with chances of 292,201,388 to 1.

Yet if you are relying on winning both, allow’s obtain reasonably: The chances for swiping both rewards are 1 in 88 quadrillions, according to CNBC.

Tickets for Saturday evening’s Powerball $430 million prize ($248 million money alternative) can be acquired up until 9: 45 p.m. ET in a lot of states on the day of the following illustration. They set you back is $2 to play.

On The Other Hand, as the Powerball prize expands, the rate of interest in America’s biggest lottery games is expanding to a high-temperature pitch as the Huge Millions prize has actually risen to an all-time document high. Friday evening’s upcoming Huge Millions prize is an approximated $900 million (money alternative $513 million). Tickets are $2 to play as well as the due date for buying is 10: 50 p.m. ET in a lot of states.

The biggest Powerball rewards ever before are as complies with:

Jan. 13, 2016: $1.586 billion

Aug. 23, 2017: $7587 million

May 18, 2013: $5905 million

Nov. 28, 2012: $5875 million

Feb. 11, 2015: $5641 million

Jan. 6, 2018: $5597 million

July 30, 2016: $4870 million

March 17, 2018: $456 million

Aug. 7, 2013: $4484 million

June 10, 2017: $4478 million

Feb. 22, 2017: $4353 million

As a matter of fact, you are 258 times most likely to be struck by lightning this year than win the Huge Millions lotto game, according to information from the National Weather Condition Solution.

Or, with chances of 1 in 3,748,067, you are 80 times most likely to be eliminated by a shark this year than win Huge Millions, the International Shark Strike Documents reported.

At 1 in 700,000, ladies are 432 times most likely to bring to life the same quadruplets than win the lotto game.

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