Dairy farmer sour on trade deal

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Dairy farmer sour on trade deal

According to USA legal definitions, a non-market economy is one that "does not operate on market principles of cost or pricing structures, so that sales of merchandise in such country do not reflect the fair value of the merchandise".

Canada and the USA reached a deadline deal on a new free trade pact that will include Mexico, the governments announced late on Sunday, after more than a year of talks to revamp a pact President Donald Trump had labelled a disaster. With a satisfied smile, the president said the new name had a "good ring to it", repeating U-S-M-C-A several times. When told that he seemed confident of congressional approval after his announcement, he said he was "not at all confident" - but not because of the deal's merits or defects.

Kushner, who traveled to China with Trump past year, has a good relationship with the Chinese ambassador to the United States, Cui Tiankai, said a source familiar with the situation.

Canadian Prime Minister Justin Trudeau's Liberal government, seeking to diversify Canada's export base, held exploratory talks with China on trade in 2016, but a launch of formal negotiations has failed to materialize.

Overall, financial markets were relieved the countries reached a deal. "It'll be United States and Mexico", Trump said at a news conference on Wednesday, days before the Sunday deadline. The U.S. wanted a higher figure.

British Columbia Premier John Horgan says the new trade agreement between Canada, the United States and Mexico provides important stability for business and Canada's economy.

If the new agreement is approved, USA farmers will be allowed to sell a bigger quantity of their dairy products in Canada, up to 3.6 per cent of the Canadian dairy market, before those prohibitive tariff rates kick in. "Canada's closed and supply-controlled system had embarked on a program that essentially dumped milk proteins on world markets and moved American dairy farming and processing jobs, along with thousands of additional high-quality jobs, from the U.S.to Canada". The Trump administration set a September 30 deadline for Canada to join the agreement, or tariffs would be placed on vehicles exported to the U.S. NAFTA 2.0 preserves most of the original treaty, including low tariffs. "Nothing in this agreement infringes on Canada's sovereign right to develop commercial relations with any country of its choosing", she wrote. He expects the price to go up at least half a dollar with the new deal. It was unclear, however, whether he had authority from Congress to pursue a revamped NAFTA with only Mexico.

Every time there is a trade deal, "we've lost", Groenendijk said.

But the United States and European Union are challenging the declaration, arguing that Chinese state subsidies fuelling excess industrial capacity, the exclusion of foreign competitors and other practices are signs it is still a non-market economy.

Mr Terry Haines, head of political analysis for Evercore ISI, said in a note to clients on Monday that his base case is that the USA and China will not strike an agreement until 2019 at the earliest.

In short, the message from the White House to voters has been this: The deal was negotiated with members of both parties in mind, so if a Democratic incumbent or candidate opposes it, that person is putting negative feelings about the president over USA workers, consumers and businesses.

"He's a professional. I'm a professional", Trump said, calling it a "fair deal".

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