560 CFOS

560 CFOS


Sunday, October 7, 2018

MP Concerned With USMCA Clause

Grey Bruce | by Matt Hermiz  

Bruce-Grey-Owen Sound MP Larry Miller says Canada gives up its sovereignty in future trade deals; a

A clause in the new United States-Mexico-Canada Agreement has raised concerns with the MP for Bruce-Grey-Owen Sound.

The USMCA includes an article on free trade agreements with other "non-market" countries that Conservative Larry Miller claims strips Canada of its sovereignty in seeking new trade deals.

"The article gives Washington the ability to determine what a non-market country is and requires Canada give notice if we want to seek a deal with one of these countries," Miller says in a release. "If we continue with negotiations, the United States will have the final say on whether we may go forward or not and any potential agreement must be given to the U.S. for their review."

In fact, Article 32.10 of the USMCA requires all of the U.S., Canada and Mexico to provide notice and details to one another for review if any of the three countries engages in free trade agreement negotiations with a "non-market" economy.

Numerous reports have interpreted the clause to refer to China, as it states "a non-market country is a country that on the date of the signature of this agreement at least one Party has determined to be a non-market economy ... and is a country with which no Party has a free trade agreement."

Prime Minister Justin Trudeau has re-affirmed Canada will continue to seek increased trade ties with China in face of questions over the controversial USMCA clause.

The article allows any of the U.S., Canada or Mexico to terminate USMCA on six-months notice if any of the three nations enter in a free trade agreement with a "non-market country".

This was downplayed by a Canadian trade negotiator involved in crafting the North American Free Trade Agreement in 1990, who told CTV News the original NAFTA deal allowed the U.S., Canada and Mexico to withdraw on six-months notice for any reason.
 

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