Listen: What's in the U.S.-Mexico-Canada deal, the new NAFTA
"House. Democrats had another big announcement Tuesday. They're supporting the new trade deal between the US. Canada and Mexico representatives from the three nations nations signed an amended deal in Mexico City this afternoon replacing Nafta the North American Free Trade Agreement was one of president. Trump's key campaign pledges joining twenty now from Washington with more details is Wall Street Journal. Reporter will Maltin. We'll what finally brought Democrats around to this deal. Well they're unhappy with the deal. Feel that president trump at us. Trade Representative Bob lighthizer originally brought from Canada and Mexico. They wanted better enforceability tools or enforcement tools for for the labor rules in the end the trade deal essentially. They felt that Mexico couldn't necessarily be trusted to live up to the new labor rules in. US MCA which were basically very much improved from the US. Point of view on the sort of elementary labor rules in the original Nafta so they wanted to boost the enforcement ability of that and and There was some loopholes in enforcement and US MTA. They wanted to close those but it took a lot of of back and forth and it took a lot of choreography and timing to get that done they. Also that's a mother demands on drug prices and pharmaceutical provisions. So let's dive into some of the details about these provisions deal doesn't include pledges from Mexico to update its labor rules as you've mentioned and new rules for the auto industry tell us more about the major provisions. Well the main thing for the auto industry is breathing a sigh of relief because backing in both parties ladies for us MCA means that NAFTA will continue. Nafta's what allowed them to make cars. Using three countries parts move back and forth across the border etc auto. Oh companies are happy about that but they will have to deal with some tougher rules about where the cars come from where the steel comes from more that has to be North America. There's some rules on that. We haven't even seen the details of yet as well as you know. What percentage of the components of a vehicle of the content has to come from North America is moved up to about seventy eighty five percent versus? You know about sixty three percent in the original Nafta besides the auto industry there Obviously key agricultural provisions to safeguard that at duty free farm goods trade between especially between the US and Mexico Canada's opening up a bit too A little bit more American dairy products without facing their large large tariffs and the way that dairy market is protected up in Canada on drugs and Pharmaceuticals the Democrats were able to strip out a US MCA provision that would have defended the intellectual property for biologic drugs for a minimum of ten years. This is a big defeat for the large drugmakers but will benefit generic makers and perhaps keep drug prices just from being as high Internationally and finally there's some rules for technology to allow the free flow of data and some currency rules. That aren't so important for Mexico and Canada Canada but could be very valuable in future. Trade agreements with Asian countries are China that that have some issues in those areas. Getting Democrats to come aboard is is also a victory for president trump who had pledged to rewrite the North American Free Trade Agreement. What are you hearing from the administration today? A comment from vice president pence who's gone around the country lobbying for US NCAA and it's like. Oh It's about time the Democrats acquiesce to our deal. President trump has been fairly Hands off just sort of putting general pressure. You're on a Pelosi and calling the do nothing Democrats. He had a comment saying they believe. They were closed in the union support earlier today but of course he threatened to WHO Get rid of NAFTA altogether pull the US out of it. So that put a lot of pressure on folks to get started in the talks. He also put steel tariffs on candidate Mexico that he later moved and threatened. Car Tariffs so those those actions were Pressure to get things moving. In negotiating table. The Democrats were able to give trump victory but only by announcing get on the same day as the articles of impeachment. That is true. Important to Note Wall Street Journal reporter Will Maldon joining me from Washington. Thank you so much. Well thank you."