NAFTA To USMCA: What’s Different About Trump’s New Trade Pact?

The video discusses the transition from NAFTA to the USMCA, highlighting key changes such as improved labor standards for Mexican workers, stricter trade requirements, and new digital trade provisions. It addresses the impact of NAFTA on job loss and the measures in USMCA to prevent businesses from relocating to Mexico for cheaper labor. The video also covers the potential for USMCA to provide short-term trade stability, while noting its automatic termination in 16 years unless extended.

What was one of the main criticisms of NAFTA that led to the creation of the USMCA?

• It favored European markets over North American ones.

• It did not include any digital trade provisions.

• It was considered one of the worst trade deals in history.

• It increased tariffs on US goods.

How does the USMCA aim to address labor standards in Mexico?

• By reducing tariffs on Mexican goods.

• By allowing more US businesses to move to Mexico.

• By increasing the number of manufacturing jobs in the US.

• By introducing higher labor standards for Mexican workers.

What is one of the enforcement provisions included in the USMCA?

• Reducing patent protections for US drugmakers.

• Allowing the US to penalize or block imports from non-compliant factories.

• Increasing tariffs on Canadian dairy products.

• Requiring data to be stored locally in each country.

What change does the USMCA introduce regarding digital trade?

• It blocks countries from requiring local data storage.

• It requires all data to be stored locally.

• It increases tariffs on digital goods.

• It limits the number of tech companies operating across borders.

What is the termination clause of the USMCA?

• The deal automatically terminates in 10 years unless extended.

• The deal automatically terminates in 16 years unless extended.

• The deal has no termination clause.

• The deal terminates if any member country withdraws.