To ratify the reforms to the North American Free Trade Agreement agreed to by the President of the United States, Prime Minister of Canada, and the President of Mexico

[alaskancrabpuffs21]

IN THE SENATE OF THE UNITED STATES

 

Ms. Iyal for herself (with Special thanks to Mr. Everhart of Pennsylvania and Mr. Villanueva of Illinois (for themselves, the President of the United States and others) introduced the following bill;

 

A BILL

 

To ratify the reforms to the North American Free Trade Agreement agreed to by the President of the United States, Prime Minister of Canada, and the President of Mexico.

 

FOLLOWING GENERAL CHANGES:

 

(1) COUNTRY-OF-ORIGIN RULES: For automobiles to receive tariff-free status, a minimum of 80% of all parts must come from North America. This marks an increase from previous requirement of 62.5% There is established a 70% of steel requirement for all automobiles to take effect by 2022. There is also hereby established a 60% requirement for rare earth and critical minerals in all instruments, electronic devices, automobiles, etc beginning in 2028. There is established a 3% tariff on foreign automobiles that fail to meet the auto requirement. For rare earth outside the North American continent, there is established 2.5% tariff that will also take effect in 2030.

(2) LABOR PROTECTION MECHANISM: A Rapid Response Mechanism is established to prevent abuses of labor and outsourcing of jobs. SEE HERE. 

(3) CANADIAN TARIFFS ON DAIRY: Canadian will hereby lift all tariffs and barriers for U.S. dairy products. 

(4) OPENING OF ALL ECONOMIES TO RARE EARTH AND CRITICAL MINERAL MINING: Each member will work to open capital markets and barriers for investment in developing our rare earth industries including lifting all existing tariffs, and guaranteeing labor protections for employees in said industries

Edited June 25 by alaskancrabpuffs21