USMCA: A TPP Redux?
Heralded as a “big win” for President Trump, the newly negotiated NAFTA replacement, the United States-Mexico-Canada Agreement (USMCA), appears to have all the earmarks of Obama-era trade agreements, with former Obama officials seeing stark similarities.
“Throughout the campaign I promised to renegotiate NAFTA, and today we have kept that promise,” Trump said from the Rose Garden on October 1, 2018, as he spoke about the “incredible new U.S.-Mexico-Canada agreement called USMCA.”
Unbeknownst to most of Trump’s base and strongest supporters is that much of the USMCA’s text is virtually identical to that of President Obama’s Trans-Pacific Partnership (TPP) — a “free trade” agreement negotiated among 12 Pacific Rim nations (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam) and at the time representing 40 percent of the world’s GDP.
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