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What Is The New Nafta Agreement Called

The next negotiation of a trade agreement must be different. From the outset, social actors must be able to change the entire framework of the agreement. During the negotiations, the United States introduced a provision that would terminate the agreement after 5 years, unless the parties agreed to an extension. However, Canada considered it important to provide more certainty about the sustainability of the agreement, which favours trade and investment decisions by private parties that depend on longer time horizons. The parties have agreed to a „sunset clause“ that provides for the termination of the contract after 16 years, unless each party agrees to an extension of another 16 years. The agreement is also subject to review every six years, at which time the parties may agree to extend the term of the agreement. But Canada has agreed to eliminate a program that helps sellers of certain dairy products at home and abroad and opens its market to milk, cream, butter, cheese and other U.S. products. In return, the U.S. has expanded market access for Canadian dairy products and sugar. The working provisions are also not contained in a parallel agreement, but in the main text with dispute settlement mechanisms to enforce the text.

Aluminum unions in Quebec are still concerned about how the North American wage is determined. They fear there is a loophole for foreign companies to qualify under NAFTA. The Bloc Québécois takes revenge for these concerns. The negotiations „focused on auto exports, tariffs on steel and aluminum, as well as the milk, egg and poultry markets.“ .

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