The pending United States-Mexico-Canada Agreement (USMCA), informally known as “NAFTA 2.0,” includes what Commerce Secretary Wilbur Ross characterized as a “poison pill.”
The provision requires parties to inform one another of their intention to enter into free-trade agreement negotiations with a nonmarket economy … with an eye toward China.
Secretary Ross’ characterization ruffles the feathers of some who say the provision limits USMCA trade partner choices. But it actually just reflects Washington’s desire to address persistent trade issues that namely pertain to China...
Continue reading: NAFTA 2.0's 'Poison Pill' Is a Needed Dose of Trade Medicine
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