U.S. Mexico Canada Trade Agreement (USMCA)
The aim of this was to update some of the protocols of the former NAFTA set in place by the Clinton Administration. Here are some of the cliff notes from the new agreement:
Meaningful IP recognition and protection for all parties. Tightening of illegal items from crossing the boarder. Digital trading updates making trade more fluent. Currency, commodities, and rate issues. Strengthening of labor regulations. These regulation also are recognized by the International Labor Organization. This is to help the denial of unethically made items through forced labor, address violent labor practices and protect migrant workers. This includes that 40-45% of auto content be made by workers in the U.S. with a minimum of $16 an hour. Lastly, to improve the environmental quality of the the 3 countries.
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