CUSMA: US, CANADA & MEXICO trade tariffs and global impact скачать в хорошем качестве

CUSMA: US, CANADA & MEXICO trade tariffs and global impact

The Canada-United States-Mexico Agreement (CUSMA), also known as USMCA or T-MEC, is a free trade agreement that replaced NAFTA in 2020, bringing together Canada, the U.S., and Mexico into one regional trade bloc19. This agreement has had a significant impact on trade and the global economy: Economic Impact CUSMA has led to substantial growth in North American trade: Trade in North America reached approximately $1.85 trillion in 2023, averaging $3 million per minute3. There has been a 47% increase in North American trade since CUSMA came into effect in 202037. The agreement has created an additional 4 million new jobs supported by trade in North America since 20203. Tariffs and Market Access CUSMA preserves many of the tariff-free benefits from NAFTA while introducing some changes: It maintains duty-free market access for $294.5 billion in industrial goods exports and $87.4 billion in energy exports. The agreement provides zero tariffs on qualifying goods, lowering trade barriers and reducing costs for North American importers and exporters1. New market access has been granted to Canada's supply-managed sectors, which may partially offset some gains. Global Impact CUSMA's importance extends beyond North America, influencing global trade dynamics: It represents one of the world's largest free trade zones, encompassing a population of over 510 million people and an economy of $30.997 trillion in nominal GDP. The agreement is seen as a strategic tool for "de-risking" trade with China by creating alternative sources of supply for products critical to economic and national security. CUSMA is viewed as a blueprint for realizing the potential of an integrated, competitive North American region in the face of global economic challenges. Challenges and Controversies Despite its benefits, CUSMA faces some challenges: The dairy sector in Canada considers CUSMA a one-sided deal, with the value of US imports projected to be five times the value of Canadian exports to the US at full implementation. More restrictive rules of origin for automobiles and auto parts may lead to higher production costs, although they are likely to increase auto-part production in North America. In conclusion, CUSMA has significantly impacted trade relations between the US, Canada, and Mexico, while also influencing global trade dynamics. Its zero-tariff provisions and binding legal commitments have reduced costs and risks associated with cross-border trade and investment, contributing to substantial economic growth in the region. #trumptariffs #tradewars #uscanadarelations #trade #cusma #uscanadaborder #usmexicorelations #northamerica #trump #trumptrade #trump'stariff #méxico #mexico #canada #canadausa #facts #geopolitics #historyfacts #geopolitica