Trump’s Economy (merged)

[hpantazo]

The United States and Mexico have reached a new Trade Agreement which basically overturned the destructive NAFTA and make trading with Mexico more fair for the USA. (Winning!)

1. Trump said he would renegotiate NAFTA to be more fair for USA.  Now Canada will be next.
2. While others got all freaked out with Tariffs or the threat of Tariffs, Trump is using it as a negotiation tactic and it is working.

3. While the swamp and Democrats are having a witch hunt, Trump is making the USA stronger.

I will be interested to see how the haters will turn this successful agreement with Mexico into a negative.

Have any details been released regarding what the changes are?

Yeah, its hard to call it a successful agreement when we haven't seen what the agreement actually is.

[nickagneta]

The deal hasn't been finalized yet and there are a bunch of variables that are ongoing that could make the progress made so far moot. Trudeau especially could hold things up after Trump's insults thrown his way. Also, the Mexican president has to get this done fast because the new incoming Mexican president is a leftist and would definitely want things changed.

Lots going on with some improbable dates to meet to make it happen, but if he can do it, good for Trump.

[Vermont Green]

The United States and Mexico have reached a new Trade Agreement which basically overturned the destructive NAFTA and make trading with Mexico more fair for the USA. (Winning!)

1. Trump said he would renegotiate NAFTA to be more fair for USA.  Now Canada will be next.
2. While others got all freaked out with Tariffs or the threat of Tariffs, Trump is using it as a negotiation tactic and it is working.

3. While the swamp and Democrats are having a witch hunt, Trump is making the USA stronger.

I will be interested to see how the haters will turn this successful agreement with Mexico into a negative.

Trump's Statement (partial I assume):

"The name NAFTA has a bad connotation because the United States was hurt very badly by NAFTA," he said. Trump added that the deal with Mexico is also very special for farmers and manufacturers. "We've made it better" for both countries.

So they changed the name but not one mention of even one specific clause that has made it better.  NAFTA had been around for while.  I don't think it was a bad deal just because Trump said it was a bad deal but clearly it makes sense to update it if it needed to be.  Now all we have is Trump saying the new deal is better for both countries.

What exactly are we celebrating here?  Mexico is still going to pay workers $2/hr and not have comparable safety or environmental regulations.  It is still going to be cheaper to make cars in Mexico.  Is the goal to force companies to manufacture in US (higher prices)?  Is it just to have Mexico buy more food from US farmers?  I guess Trump is just going to say "this is a great deal" and supporters are going to believe it.

And yes, I am very '"freaked out" about Trump's approach to China and Europe.  I think the upside is small and the downside large.  There are some issues with China related to intellectual property for example that have been issues for awhile but I think overall, trashing our European allies in the name of better trade is a poor approach.

[nickagneta]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

[gift]

The United States and Mexico have reached a new Trade Agreement which basically overturned the destructive NAFTA and make trading with Mexico more fair for the USA. (Winning!)

1. Trump said he would renegotiate NAFTA to be more fair for USA.  Now Canada will be next.
2. While others got all freaked out with Tariffs or the threat of Tariffs, Trump is using it as a negotiation tactic and it is working.

3. While the swamp and Democrats are having a witch hunt, Trump is making the USA stronger.

I will be interested to see how the haters will turn this successful agreement with Mexico into a negative.

Trump's Statement (partial I assume):

"The name NAFTA has a bad connotation because the United States was hurt very badly by NAFTA," he said. Trump added that the deal with Mexico is also very special for farmers and manufacturers. "We've made it better" for both countries.

So they changed the name but not one mention of even one specific clause that has made it better.  NAFTA had been around for while.  I don't think it was a bad deal just because Trump said it was a bad deal but clearly it makes sense to update it if it needed to be.  Now all we have is Trump saying the new deal is better for both countries.

What exactly are we celebrating here?  Mexico is still going to pay workers $2/hr and not have comparable safety or environmental regulations.  It is still going to be cheaper to make cars in Mexico.  Is the goal to force companies to manufacture in US (higher prices)?  Is it just to have Mexico buy more food from US farmers?  I guess Trump is just going to say "this is a great deal" and supporters are going to believe it.

And yes, I am very '"freaked out" about Trump's approach to China and Europe.  I think the upside is small and the downside large.  There are some issues with China related to intellectual property for example that have been issues for awhile but I think overall, trashing our European allies in the name of better trade is a poor approach.

I tend to agree about the upside vs. downside. However, I do allow that it [policy with europe and china] could turn out to be good strategy in hindsight, though it would require a concerted effort by subsequent administrations that is, admittedly, unlikely. The thinking (on my part, not necessarily the administration's motivations) is that "old" industry is fading and there is nothing the US can do to compete. The US need to protect new and future industries which will rely more on issues like intellectual property/patent recognition. Negotiations right now could be losses in old sectors that lead to future gains in the areas we increasingly need them.

[heyvik]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

Can you please post the details - I've used up all my free articles for the month.

[Moranis]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

Can you please post the details - I've used up all my free articles for the month.

isn't that was he posted?

[Moranis]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

the hill provided a bit more detail on the labor wage portion.

http://thehill.com/homenews/administration/403781-trump-announces-deal-with-mexico-on-nafta-overhaul

The U.S.-Mexico deal would require 75 percent of auto content to be made in U.S. and Mexico, up from 62.5 percent, USTR announced. 

The deal also would require that 40-45 percent of auto content be made by workers earning at least $16 per hour.[/quote]

[Cman]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

the hill provided a bit more detail on the labor wage portion.

http://thehill.com/homenews/administration/403781-trump-announces-deal-with-mexico-on-nafta-overhaul

The U.S.-Mexico deal would require 75 percent of auto content to be made in U.S. and Mexico, up from 62.5 percent, USTR announced. 

The deal also would require that 40-45 percent of auto content be made by workers earning at least $16 per hour.[/quote]

How did those lefty socialists get a minimum wage requirement in there?

[hpantazo]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

the hill provided a bit more detail on the labor wage portion.

http://thehill.com/homenews/administration/403781-trump-announces-deal-with-mexico-on-nafta-overhaul

The U.S.-Mexico deal would require 75 percent of auto content to be made in U.S. and Mexico, up from 62.5 percent, USTR announced. 

The deal also would require that 40-45 percent of auto content be made by workers earning at least $16 per hour.[/quote]

How did those lefty socialists get a minimum wage requirement in there?

It's not lefty socialists. Its to prevent manufacturing jobs moving to Mexico to pay workers $2 an hour for the same work that they pay $16 an hour for here in the US.


The 40-45% of auto content leaves a lot of room to circumvent some of these rules though imo.

[gift]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

the hill provided a bit more detail on the labor wage portion.

http://thehill.com/homenews/administration/403781-trump-announces-deal-with-mexico-on-nafta-overhaul

The U.S.-Mexico deal would require 75 percent of auto content to be made in U.S. and Mexico, up from 62.5 percent, USTR announced. 

The deal also would require that 40-45 percent of auto content be made by workers earning at least $16 per hour.[/quote]

How did those lefty socialists get a minimum wage requirement in there?

It's not lefty socialists. Its to prevent manufacturing jobs moving to Mexico to pay workers $2 an hour for the same work that they pay $16 an hour for here in the US.


The 40-45% of auto content leaves a lot of room to circumvent some of these rules though imo.

I'm hoping someone did an analysis and concluded those numbers were best to halt further job loss to mexico rather than simply raising the cost of jobs that are going to mexico anyway.

[hpantazo]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

the hill provided a bit more detail on the labor wage portion.

http://thehill.com/homenews/administration/403781-trump-announces-deal-with-mexico-on-nafta-overhaul

The U.S.-Mexico deal would require 75 percent of auto content to be made in U.S. and Mexico, up from 62.5 percent, USTR announced. 

The deal also would require that 40-45 percent of auto content be made by workers earning at least $16 per hour.[/quote]

How did those lefty socialists get a minimum wage requirement in there?

It's not lefty socialists. Its to prevent manufacturing jobs moving to Mexico to pay workers $2 an hour for the same work that they pay $16 an hour for here in the US.


The 40-45% of auto content leaves a lot of room to circumvent some of these rules though imo.

I'm hoping someone did an analysis and concluded those numbers were best to halt further job loss to mexico rather than simply raising the cost of jobs that are going to mexico anyway.

So am I. I hope several groups conducted independent analysis to come up with that estimate.

[slamtheking]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

the hill provided a bit more detail on the labor wage portion.

http://thehill.com/homenews/administration/403781-trump-announces-deal-with-mexico-on-nafta-overhaul

The U.S.-Mexico deal would require 75 percent of auto content to be made in U.S. and Mexico, up from 62.5 percent, USTR announced. 

The deal also would require that 40-45 percent of auto content be made by workers earning at least $16 per hour.[/quote]

How did those lefty socialists get a minimum wage requirement in there?

It's not lefty socialists. Its to prevent manufacturing jobs moving to Mexico to pay workers $2 an hour for the same work that they pay $16 an hour for here in the US.


The 40-45% of auto content leaves a lot of room to circumvent some of these rules though imo.

I'm hoping someone did an analysis and concluded those numbers were best to halt further job loss to mexico rather than simply raising the cost of jobs that are going to mexico anyway.

So am I. I hope several groups conducted independent analysis to come up with that estimate.

curious how the loss of jobs to automation will be accounted for in those figures.  I think that's where a lot of the auto companies are going to get their wiggle room to cut wage and tariff costs.

[wdleehi]

In recent days, U.S. and Mexican diplomats reached agreement on key elements of a new treaty, including an increase in the percentage of each car -- to 75 percent from the current 62.5 percent -- that must be made in North America to qualify for duty-free treatment.

The two sides agreed to a provision that would require a significant portion of each vehicle to be made in high-wage factories, a measure aimed at discouraging factory jobs from leaving the United States for Mexico.

Negotiators also resolved a dispute over how to treat cars and trucks produced in Mexican plants that do not comply with the new treaty’s content rules. American companies importing those vehicles will pay a 2.5 percent tariff.

I found these details here

https://www.washingtonpost.com/business/2018/08/27/us-mexico-reach-partial-agreement-resolve-trade-conflict-step-towards-nafta-deal/?utm_term=.20c106da4138

Can you please post the details - I've used up all my free articles for the month.

Clear your cache.   It usually resets that. 

[Vermont Green]

Not so fast on the bilateral Mexico-USA trade deal:

Washington (CNN)  To hear President Donald Trump tell it on Monday, the United States is abandoning the NAFTA free trade deal between the US, Canada and Mexico in favor of a bilateral agreement between the US and Mexico. And possibly a second bilateral deal with Canada.  Trump even gave the bilateral agreement a name: the "US-Mexico Trade Agreement," which he said would replace the trilateral free trade deal.  But none of that is happening.

There is no formal free trade deal between the US and Mexico, only an agreement between the two countries on how to resolve key issues in their trade relationship as part of the NAFTA talks. The US trade representative's office officially described the agreement as "a preliminary agreement in principle ... to update the 24-year-old NAFTA with modern provisions representing a 21st century."

The agreement between the US and Mexico on Monday was a significant marker in the yearlong effort to renegotiate the trilateral trade pact, sweeping away key obstacles impacting the US and Mexico that had held up trilateral talks.  But Trump was eager to portray the agreement as much more than that as the reality TV star-turned-president orchestrated the latest made-for-TV moment of his presidency.

Trump has repeatedly indicated he would prefer to reach bilateral agreements with Canada and Mexico, but the two countries have maintained a united front that a trilateral agreement is the only one they will sign. There was no indication on Monday that Mexico had abandoned that position.  Instead, the Mexican President Enrique Peña-Nieto, who joined Trump in the Oval Office by speakerphone, emphasized three times the importance of Canada joining the burgeoning agreement.

"I desire, I wish that the part with Canada will be materializing in a very concrete fashion, and we can have an agreement the way we proposed it from the initiation of this renegotiating process, a tripartite," Peña-Nieto said through a translator.

One thing you have to give Trump, he is consistent.  He lies about everything.  EVERYTHING!  How does anyone believe anything this impostor says?  See what will happen is these supporters of the impostor will hear this today and say "Trump is great, we are winning", then they will go home and watch Fox News and get confirmation bias on the lies.  In a few weeks (or days) everyone will be so confused by the differing narratives (fake news CNN) that everyone will just keep on believing what they want to believe until Trump changes his story to a new lie.