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As the new NAFTA comes into effect,

3K views 22 replies 10 participants last post by  Neanderthal 
#1 ·
https://www.ctvnews.ca/politics/as-...ect-here-s-what-it-means-for-canada-1.5004707

CARS COULD COST MORE
Changes were made to what is called the “rules of origin” for autos. Basically, this means that there is a new requirement where each car made has to have a certain amount of high wage labour put into it, as well as certain amount of North American-made materials.

The revised rules require a higher level of North American content in each vehicle, incentivizing more production and sourcing within Canada, the United States, and Mexico. Specifically the threshold has been increased from 62.5 per cent to 75 per cent.

As well, automobiles now have a 70 per cent North American steel and aluminum requirement and 40 per cent of passenger vehicles must be made of materials, parts and labour produced or carried out by workers in a plant where the average hourly wage is at least $16 U.S.

This could spark increased automotive production across the three countries, and offer new material production opportunities for Canadian auto part manufacturers. However, some auto industry experts have warned the requirements could result in higher prices for these vehicles if the anticipated higher production costs are passed along to consumers.
 
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#14 ·
This bothers me tough. If Ford can build their best selling, most profitable F Series with UAW labor's wages, Why does Ram and some GM's use Mexican wages to produce similar products? Where does the left over savings go? Balance Sheets don't show that they are used wisely. Most any Profits, go to the Heads CEO/CFO and such, for doing what?

Henry Ford's philosophy of "Pay the Worker so they can afford your Product" comes to mind.

It is only a matter of time, that Mexico become as Solvent a Country as Canada and the US. Either by Gaining ground or Canada/US losing ground. Global Economy is just that, "Global". No one should decide their Wage should be $20 mil this year, even when what they achieved was less than Stellar. While fighting to keep their Employees wages down. The Heads, are a part of a Companies Structure, but they are nothing without the Foundation.
 
#8 ·
And pharmaceuticals. I can't imagine what imbecile would let that industry go to a deadly enemy. Oh wait. Money talks.
 
#12 · (Edited)
From bad to worse? It's all in the details.

https://www.thenewamerican.com/worl..._COPY_01)&mc_cid=acdc288d35&mc_eid=10a789396b

According to Article 23.12 of the USMCA, all three countries agree to cooperate on “addressing gender-related issues in the field of labor and employment,” as well as “addressing the opportunities of a diverse workforce, including: ... promotion of equality and elimination of employment discrimination in the areas of age, disability, race, ethnicity, religion, sexual orientation, gender identity.”

In other words, as the video points out, if a man applies for a job and goes to the interview dressed as a woman with a demand that he be addressed with female pronouns and demonstrates even the mildest capacity to do the job, the employer may be forced to hire that individual or run the risk of a lawsuit.

In fact, on June 15, 2020, a little over two weeks prior to the USMCA’s entry into force, the U.S. Supreme Court ruled 6-3 in Bostock v. Clayton County, Georgia that the 1964 Civil Rights Act also extends to protect gay and transgender employees from workplace discrimination. This ruling so happens to bring the United States into full compliance with the “gender identity” provisions in Chapter 23 of the USMCA.

Chapter 23 also requires all three countries to “adopt and maintain in its statutes and regulations, and practices thereunder ... the effective recognition of the right to collective bargaining.”

In other words, the USMCA could force Congress to pass national “collective bargaining” laws, overturning any individual state’s “right to work” laws.
 
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#13 ·
ure, for those that aren’t familiar with NAFTA, let me give you a quick summary.

NAFTA stands for the North American Free Trade Agreement. It came into force in 1994 and gradually eliminated most of the trade barriers between Mexico, Canada and the US.

When Donald Trump was elected, he called for NAFTA to be re-negotiated, calling it the “worst trade deal” in US history.

The signing of NAFTA today ends months of uncertainty for trade in North America as no one was sure if the three countries would agree a deal. Many were concerned that Trump would pull the US out of NAFTA, just as he did for the Trans-Pacific Partnership in January last year. At the time this affected the Mexico currency and drove the value of some US trade-related stocks down.

There were also fears as to whether Canada would be a party to the NAFTA deal. Talks between the US and Canada had stalled and the US said it was happy to proceed with only Mexico. Mexico was quick to give away concessions, not only because NAFTA is good for trade (Mexico ships 4/5 of its exports to the US), but also because the outgoing President wanted to sign a deal before he left office and because the US had threatened to impose tariffs on car imports, which would damage the Mexican economy.

By giving concessions away and agreeing to negotiate directly with the US, Mexico may have harmed relations with Canada, as the two had promised to maintain a common front during negotiations.

In the end, Canada signed, largely because they are especially reliant on the US economy. In 2017, the US traded more with Canada than any other country except China. Canada had already been suffering a slowdown in investment due to the US lowering corporate tax. One assessment predicting the Canadian economy would contract by 2.2% without NAFTA

So what has been renegotiated?

Some of the key terms of the deal -- now called the United States-Mexico-Canada Agreement or USMCA -- include:

The share of a car’s components made in North America had to rise from 62.5% to 75% for US and Mexican-assembled vehicles (Trump increasingly wants to bring back supply chains to the US even though it is more
40-45% of the content going into a vehicle must be made my workers earning an average of $16 an hour (this will encourage companies to keep manufacturing in the US).
US farms will gain access to 3.5% of Canada’s dairy market.
USMCA Is to be reviewed every six years.
Canada retains access to Chapter 19, which provides a dispute resolution mechanism for anti-dumping and counterveiling duties

After the signing was announced, the Canadian dollar and the Mexican peso rose, which indicates greater confidence in the markets. The S&P 500 (a US stock index for the 500 public companies listed on the New York Stock Exchange) is also set to hit a record today

What is the impact on law firms?

When thinking about the impact on law firms, you might want to first consider the consequences on clients had a deal not been signed. There would be disruptions to supply chains and technologies in North America and a fall in international trade due to higher tariffs. Lawyers would need to help companies restructure their businesses. Deal value and volume would fall, affecting corporate teams -- although that might be mitigated somewhat in short term due to a rise in demand for lawyers who will be needed to interpret the WTO rules between the US and Mexico.

Moving to the present, lawyers will be needed to help clients prepare for the impact of the new deal terms. Even if law firms don’t specialise in international trade law, lawyers should be aware of the changes and be prepared to answer relevant questions from clients or in-house counsel. The scope of USMCA applies across IP, litigation, commercial and employment, among other departments.

Businesses that trade internationally will need lawyers to determine whether their goods are exempt from tariffs under USMCA and to ensure that they trade in compliance with NAFTA. In these cases, it might be useful for law firms to have offices in the US, Canada and Mexico, so they can advise on any additional local regulations for businesses, including licensing, certification or regulatory requirements.

The new review period taking place every six years will mean clients need to undertake regular risk assessments in case the terms of USMCA are changed. Lawyers can help businesses to identify which parts of their business are most at risk and identify opportunities to mitigate that risk. This could mean restructuring their business, moving supply chains or acquiring companies to manufacture their goods. It could also mean renegotiating contract terms with suppliers.

Lawyers will also be needed when it comes to cross-border investment disputes, to help companies take action under the dispute resolution provisions in compliance with USMCA.
 
#17 ·
Explain Mother Mary's Income.

GM CEO Barra was highest-paid Detroit 3 auto exec in 2019

Kalea Hall, The Detroit NewsPublished 4:22 p.m. ET April 27, 2020 | Updated 6:19 p.m. ET April 27, 2020


Detroit — General Motors Co. CEO Mary Barra received $21.6 million in compensation last year making her the highest-paid executive among the Detroit Three automakers.

Barra's 2019 compensation was slightly below the $21.87 million she made in 2018, according to a Securities and Exchange Commission filing released Monday.

Ford Motor Co. CEO Jim Hackett in 2019 received $17.36 million in total compensation. Fiat Chrysler Automobiles NV CEO Mike Manley in 2019 received $12.46 million (11.45 million euros) in compensation for his first full year leading the Italian American automaker.
VS GM as a whole

General Motors annual/quarterly revenue history and growth rate from 2009 to 2020. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. •General Motors revenue for the quarter ending March 31, 2020 was $32.709B, a 6.22% decline year-over-year.
•General Motors revenue for the twelve months ending March 31, 2020 was $135.068B, a 7.38% decline year-over-year.
•General Motors annual revenue for 2019 was $137.237B, a 6.67% decline from 2018.
•General Motors annual revenue for 2018 was $147.049B, a 1% increase from 2017.
•General Motors annual revenue for 2017 was $145.588B, a 2.41% decline from 2016.
So it is not Marital, It is not Performance Based, it is not a Set Figure Annually, It is beyond Normal Realm of Gross Incomes even to them. (CEO's taking Cooperate Jets to Bail Out Hearings)
 
#18 ·
Explain Mother Mary's Income.



VS GM as a whole



So it is not Marital, It is not Performance Based, it is not a Set Figure Annually, It is beyond Normal Realm of Gross Incomes even to them. (CEO's taking Cooperate Jets to Bail Out Hearings)
How on earth do they get buy on such pittances? I vote we start a Go Fund Me to hlep them out!
 
#23 ·
Back to NAFTA, where POTUS & Friends clearly had the wool pulled over their eyes:

On the subject of regional integration toward a nascent North American Union, Chapter 26 of the USMCA, the competitiveness chapter, establishes a “Competitiveness Committee” made up of unelected government representatives from all three countries.

According to Article 26.1, Section 5 of the USMCA, the purpose of this Competitiveness Committee is to promote “economic integration and development within the free trade area” and “to further enhance the competitiveness of the North American economy.” (Emphasis added.)

This is extremely dangerous since the Competitiveness Committee has the ability to create an “economic union” by merging the economies of the United States, Mexico, and Canada into a North American Union akin to the European Union.

For those who wish to maintain the United States’ standing as a free and independent republic, the objectives of the Competitiveness Committee should be an area of major concern.

Another major sovereignty-tearing aspect of the USMCA is Chapter 30 and its establishment of a new “Free Trade Commission.” Similar to the European Commission that runs the European Union, the USMCA’s Free Trade Commission will act as the agreement’s “administrative” or “executive” body with the power to “consider proposals to amend or modify this Agreement.”

Should the Free Trade Commission evolve, in much the same way the High Authority of the European Coal and Steal Community became today’s European Commission of the European Union, it may eventually override or force the U.S. Congress, Mexico’s Congress of the Union, and Canada’s Parliament to rubber-stamp USMCA mandates in the name of fostering or deepening “economic integration.”

The USMCA Free Trade Commission may someday impose on the United States new laws, regulations, and standards in the areas of banking, currency, the environment, fishing, e-commerce, and labor — all of which are areas covered in the various chapters of the USMCA.

This Free Trade Commission will also be made up of unelected government representatives from all three countries. These representatives will not only oversee implementation of the USMCA’s numerous provisions, they will also oversee 19 subordinate committees, such as the aforementioned Competitiveness Committee. And each of the 19 subcommittees will be staffed by more unelected representatives.

As mentioned earlier, the video also addresses how aspects of various chapters of the USMCA bind the United States to following UN conventions and treaties, namely the 1969 Vienna Convention on the Law of Treaties and the controversial United Nations Convention on the Law of the Sea, better known as the Law of the Sea Treaty — neither of which the U.S. Senate has ratified.

The primary concern with the USMCA is not its impact on the U.S. economy, good or bad, but its ramifications for U.S. sovereignty. As stated in the video, “The United States can weather the storms of a bad economy or even a recession, but it cannot survive the loss of its sovereignty.”

For a more exhaustive list of what’s in the USMCA, the video points to The John Birch Society’s “USMCA Issues Index.” The USMCA Issues Index is a free downloadable PDF that alphabetically lists most of the USMCA’s major threats to U.S. sovereignty and freedoms with links to the actual chapters of the agreement. Many of these issues are also covered in The New American’s online article entitled “What's Really in the USMCA?”

More proposed trade deals are on the horizon, such as an FTA with the United Kingdom and a separate agreement with the European Union similar to President Obama’s once-proposed Transatlantic Trade and Investment Partnership (TTIP), and the USMCA offers a glimpse of what to expect from those agreements, especially as they are also being negotiated by U.S. Trade Representative and CFR luminary Robert Lighthizer, who served as the United States’ principle negotiator for the USMCA.

https://www.thenewamerican.com/worl..._COPY_01)&mc_cid=acdc288d35&mc_eid=10a789396b
 
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