This news has been received from: CNN

All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.

Washington (CNN)The US-Mexico-Canada Agreement takes effect Wednesday, fulfilling President Donald Trump's 2016 campaign pledge to replace the North American Free Trade Agreement -- which he's often referred to as "the worst trade deal ever made."

The new agreement was signed by Trump and his Mexican and Canadian counterparts in 2018 and approved by Congress earlier this year after Democrats added stronger labor rules.
It was touted by the President as a major political win ahead of his reelection campaign but has since been overshadowed by the coronavirus pandemic and other crises.
    Much of USMCA simply updates the 25-year-old agreement it's replacing. It's expected to create 176,000 jobs after six years and increase US GDP by 0.35%, according to a report released last year -- long before the pandemic -- by the US International Trade Commission, a federal government agency. By comparison, the United States added more than 152,000 jobs in January 2020 alone.But the deal provides certainty for business groups and farmers who feared Trump would rip up NAFTA without having a new deal in place, a move he threatened several times.Read MoreThe USMCA stands in contrast to Trump's efforts to renegotiate trade terms with China. After more than a year of negotiations, a preliminary agreement signed in January falls short of resolving major issues with intellectual property theft and forced technology transfers. It leaves tariffs on billions of dollars of goods in place and it's unclear whether China will keep its promise to more than double its purchases from American farmers. Trump has opted for bilateral deals and inked new agreements with South Korea and Japan. He pulled the United States out of the 12-country Trans-Pacific Partnership, known as TPP, that was negotiated by the Obama Administration. Here are some of the key changes in the USMCA:Auto manufacturing boostThe USMCA creates a new incentive to build cars and trucks in North America. It requires 75% of a vehicle's parts to be made in one of the three countries -- up from the current 62.5% rule -- in order to remain free from tariffs when moving between the three signatory countries.It also requires more vehicle parts to be made by workers earning at least $16 an hour, which may provide a boost to manufacturing in the United States, where wages are higher than in Mexico.The International Trade Commission report found that these changes would add 28,000 jobs in the industry over six years, while also leading to a small increase in the price of vehicles that consumers pay. Though, a Trump administration report was more positive, projecting that the deal would create 76,000 auto jobs over five years.Labor laws strengthened in MexicoManufacturing workers have long blamed NAFTA for sending jobs to Mexico, where wages are lower, and it was a priority for Democrats that the USMCA strengthen the enforcement of labor rules, creating a more level playing field for American workers.Democrats struck a deal with the Trump administration to strengthen the enforcement language in the deal. The changes were able to win the backing of the AFL-CIO, the largest federation of unions in the United States.The deal provides for an interagency committee that will monitor Mexico's labor reform implementation and compliance with labor obligations. It also, for the first time in any US trade agreement, allows for "rapid response" panels to review whether specific facilities are violating workers' rights and to levy duties or penalties on products made at those facilities.US dairy farmers get more market accessThe original NAFTA eliminated tariffs on most agricultural products traded among the three countries. Canada and Mexico are already the two biggest export markets for US farmers and ranchers.The USMCA will keep those tariffs at zero, while further opening up the Canadian market to US dairy, poultry and eggs. In return, the United States will allow more Canadian dairy, peanuts and peanut products, as well as a limited amount of sugar, to cross the border.Updating NAFTA for the digital eraThe USMCA includes sweeping new benefits for the technology sector, in a chapter on digital trade that wasn't a part of the original NAFTA. The new provisions aren't expected to directly create new jobs but could provide a boost to US businesses in other ways.For example, the new trade deal prohibits Canada and Mexico from forcing US companies to store their data on in-country servers. It also ensures that US companies cannot be sued in Canada and Mexico for much of the content appearing on their platforms.Environmental protections
      The agreement provides $600 million to address environmental problems in the region -- like sewage spillovers from Tijuana that impact San Diego -- and makes regulations easier to enforce by doing away with a requirement to prove a violation affects trade.While the new enforcement measures pleased most Democrats, they didn't go far enough to get environmental groups like the Sierra Club to support the agreement.

      News Source: CNN

      Restaurant And Bar Owners To Meet With Allegheny Co. Executive Over Alcohol Ban

      Next News:

      Will Financial Pressure Finally Force Dan Snyder to Change His Teams Name?

      Influencers use Breonna Taylor memes to demand arrest of Louisville police Joblessness falls to 11.1% as more states reopen Will Financial Pressure Finally Force Dan Snyder to Change His Teams Name?

      There has been relatively consistent pressure around the Washington football team to change their offensive name for most of this decade. As America's sensitivity towards racial issues have heightened significantly over the last month and a half, that pressure has grown . To an extent, Washington has listened; they took down the statue of former owner George Preston Marshall, who had to be forced by the government to racially integrate his team in the early 1960s. They also renamed the lower bowl of FedEx Stadium in honor of their first black player, Bobby Mitchell, after retiring his number.

      © Provided by The Big Lead

      And yet the team name, coined after a derogatory term for Native Americans, remains. While it is good that no part of the stadium or its grounds pays homage to its former racist owner, it all seems disingenuous at best when the worst part of the organization stays unchanged. Dan Snyder appears to be remaining steadfast in his refusal to rename the team. He said in 2013 that he would "never" change it and nothing he has done suggests he has changed his mind. But now, for the first time in the public campaign to get the name changed, Snyder is getting hit where it really hurts: his wallet.

      Shareholders and investment firms involved with Pepsi, FedEx, and Nike have penned a letter to the gigantic sponsors asking they end their partnerships with Washington unless the team name is changed. AdWeek reports three separate letters were sent, signed by 87 firms and shareholders. This is significant because the 87 signees in question are reportedly worth $620 billion combined. That's a lot of money talking to three of the biggest sponsors in sports.

      That is not all. Yesterday, D.C. Democratic representative Eleanor Holmes Norton, D.C. Deputy Mayor John Falciccio, and chair of the House Natural Resources Committee Raúl M. Grijalva told the Washington Post that Snyder would not be able to build a new stadium until the name is changed. They have the power to do so because FedEx Stadium currently resides on federally-owned land. From the WP:

      There is no scenario in which Daniel Snyder will be able to build a new Washington Redskins stadium on the federally owned RFK Stadium site unless he changes the team’s name. That was the unequivocal message from Eleanor Holmes Norton (D), the District’s nonvoting delegate to the House of Representatives; D.C. Deputy Mayor John Falcicchio; and U.S. Rep. Raúl M. Grijalva (D-Ariz.), chair of the House Natural Resources Committee, in separate telephone interviews with The Washington Post on Wednesday. “I call on Dan Snyder once again to face that reality, since he does still desperately want to be in the nation’s capital,” Norton said. “He has got a problem he can’t get around — and he particularly can’t get around it today, after the George Floyd killing.” Said Falcicchio: “There is no viable path, locally or federally, for the Washington football team to return to Washington, D.C., without first changing the team name.”

      Snyder began lobbying officials for permission and funds to build a new stadium earlier this year. FedEx Stadium isn't exactly ancient. It was built in 1997. But it is on the older side for an NFL stadium and Snyder has no doubt been wooed by the bright and shiny new digs the Falcons and Vikings have built over the last few years.

      Snyder is now facing pressure from all directions. An expectation of basic decency from the billionaire has not garnered the desired results. We'll see if the threat currently posed to his bank account does. There's already an easy alternative staring him right in the face!

      Continue Reading Show full articles without "Continue Reading" button for {0} hours.

      Other News

      • 90 years later, Prohibition officially ending in Mississippi
      • UPDATE: Mahwah Rescuers Pull Body Of Swimmer, 33, From Ramapo River
      • Max Meyer officially signs with Miami Marlins
      • The coronavirus has changed since it left Wuhan. Is it more infectious?
      • 'Our doors remain open': Prosecutors say Prince Andrew still hasn't spoken to investigators about his Jeffrey Epstein and Ghislaine Maxwell connections
      • Body Of Rockland Man Recovered From Ramapo River, Police Say
      • Boston University Mulling New Name For Mascot Over Connection To ‘Gone With The Wind’
      • Donald Trump Has Essentially Gone Awol During National Crisis Warns Ex-CIA Director
      • RHOC’s Vicki Gunvalson officially moves into new Puerto Vallarta condo after being ‘fired’ from Bravo
      • Courtney Stodden posts video with shirtless Brian Austin Green following his divorce from Megan Fox
      • Sephora Just Confirmed That It Has Officially Banned Mink Eyelashes
      • NARS is officially launching in Boots & here’s how you can bag a free lipstick
      • Trump is a spent force — but Trumpism will become more dangerous once he’s gone
      • Menifees New Police Department On Patrol As Station Officially Opens
      • Olivia de Havilland, Golden Age of Hollywood star, turns 104
      • New North American Trade Deal Launches Under Cloud of Disputes, Coronavirus
      • USMCA Replaces NAFTA as Trump Delivers on One of Biggest Promises
      • Canada enthusiastically welcomes entry into force of T-MEC
      • Mexican Labor Activist Released From Jail as Trade Deal Takes Effect