BUSN 70 Lecture Notes - Lecture 52: Good Governance, 6 Years, North American Free Trade Agreement
13 Mar 2021
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General agreement on tariffs and trade (gatt) = trade agreement signed by 23 nations in 1947, provided a forum for tariff negotiations and a place where international trade problems could be discussed and resolved. World trade organization (wto) = international organization dealing with the rules of trade between nations, evolved from gatt. The new deal will be known as the united states-mexico-canada. Agreement that eliminates most tariffs and trade restrictions on agricultural and manufactured products to encourage trade among canada, the u. s. and mexico. October 1, 2018 the 3 countries reached an agreement. The usmca makes a number of significant upgrades to environmental and labor regulations, especially regarding. The new deal won"t go into effect until 2020. Big changes for cars: more parts made in north america and workers must earn. U. s. dairy products is opened for farmers. Steel tariffs stay in place for now, but trump agreed not to pound them with auto tariffs.
