Unfortunately, the now-paused trade negotiations with the U.K. and Kenya started from the flawed new NAFTA/TPP template. Tai and the Biden administration are right to pause and review these negotiations and should consult with civil society before developing an entirely new template for trade negotiations. In addition to the “worker-centric” approach that Tai has outlined, a new model must incorporate important principles that President Biden articulated in his Jan. 20, 2021 executive order on modernizing regulatory review.
Biden’s order has been called “game-changing” because instead of focusing review of regulations primarily to reduce business costs it calls for promoting “public health and safety, economic growth, social welfare, racial justice, environmental stewardship, human dignity, equity and the interests of future generations.” In a significant about-face, Biden’s regulatory reform order tasks the Office of Information and Regulatory Affairs (OIRA) in the Office of Management and Budget (OMB) — which has been a primary force for deregulation and a roadblock to lifesaving regulations for decades — with proactively encouraging agencies to develop rules that benefit the public.
The Office of the U.S. Trade Representative (USTR) should be a first stop on this regulatory review train. The new NAFTA is out of step with the Biden administration’s expressed priorities and cannot be the model for future agreements. Instead of promoting the interests of future generations, racial justice and environmental stewardship, the new NAFTA’s so-called “good regulatory practices” chapter increases opportunities for corporate meddling to slow down, weaken and roll back protective standards. Provisions throughout call for regulatory impact statements, cost-benefit analysis, a rush to market without safety studies, limited labeling of hazards and harmonization of standards with those of other countries or weak corporate-influenced international standards. While the text includes lip service to the importance of public interest regulations, the new NAFTA includes multiple deregulatory provisions that instead fuel a race to the bottom. - IATP
Thursday, May 6, 2021
How badly might the new NAFTA screw things up?
This is a comprehensive analysis.
Side comment ... did you hear Eric Trump blasting Biden for increases in lumber prices ?
ReplyDeleteHe didn't mention that in 2017, when the Trump administration took office, Trump raised the U.S. tariffs about 20% on Canadian lumber shipments.
Lumber wasn’t included in the U.S.-Mexico-Canada trade agreement, so even if Biden were to "open the borders" for Canadian lumber ... that really wouldn't help ... because Canadian demand is up ans so are its prices
https://www.cbc.ca/news/canada/british-columbia/lumber-prices-bc-1.5957406
But it is a great talking point for Republicans ... ignoring that the only way to provide lower prices to consumers would be for the "government to set price controls" and that is anti-thematic for their "free market" principles.
I am waiting for Liz Cheney's replacement, Elise Stefanik, to make the argument ... especially since her nickname by the Democrats is "the Plywood Princess" as her father, Ken Stefanik, founded Premium Plywood Products.
BTW, I remember the days when I would give tours of our manufacturing plant with a stop at the shipping dock where I would point out that all our shipping crates were made with Minnesota lumber ... so these higher lumber prices will impact other industries besides just home builders and remodelers.