'We could not have got a better deal': New NAFTA means more work, more security, says expert

January 28, 2020

The president of the association that represents Canadian automotive parts manufacturers said it's almost impossible to expect a better agreement than the new NAFTA deal currently before the House of Commons.

Flavio Volpe, president of the Automotive Parts Manufacturers' Association (APMA), said he challenges anyone to find a way to improve the Canada-U.S.-Mexico Agreement (CUSMA).

"If someone says that we can improve it, I challenge them to quantify it," he said. "I'm happy to have a public debate with anybody on that piece."

CUSMA is a trilateral trade agreement intended to succeed the North American Free Trade Agreement, which was established by the continent's three largest economic powers 26 years ago.

In addition to sections establishing trade rules for dairy products, intellectual property and labour, CUSMA also features modernized rules governing the automobile sector.

According to Volpe, the agreement ensures "every car that's made in the North American region is going to have 25 per cent more content in it locally."...

This was excerpted from the 28 January 2020 edition of CBC News.

Topic(s)

Trade Agreements

Information source

Canadian News Channel

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