Latin America

  • USMCA: The New North American Trade Deal

    Just minutes before the September 30 deadline, the United States and Canada – following the US-Mexico deal – reached a new trade accord that modernizes the nearly 25-year-old North American Free Trade Agreement. The newly rebranded United States-Mexico-Canada Agreement is now set to be signed before December 1, 2018. The Atlantic Council’s Adrienne Arsht Latin America Center, in partnership with the Atlantic Council’s Global Business and Economics Program held a rapid reaction conference call on Tuesday, October 2 to discuss key points of the deal and the implications for the future of North American relations. Below is the audio recording and summary.

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  • A Modernized NAFTA

    The new trade agreement between the United States, Canada, and Mexico “modernizes” the North American Free Trade Agreement (NAFTA) and lifts a cloud of uncertainty that has lingered over the past several months, according to Earl Anthony Wayne, a nonresident senior fellow with the Atlantic Council’s Global Business and Economics Program.

    In negotiations that went down to the wire, Canada agreed on September 30 to join the United States and Mexico in a revised version of NAFTA. The new agreement will be referred to as the United State-Mexico-Canada Agreement (USMCA).

    “Overall, each of the three countries showed flexibility, can claim wins from the new agreement, and gave up preferred positions to reach agreement,” said Wayne, who served as the US ambassador to Mexico from 2011 to 2015.

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  • Meet the New NAFTA: The United States-Mexico-Canada Agreement

    Canada agreed, moments before the clock ran out on a September 30 deadline, to sign on to a trade agreement between the United States and Mexico that would replace the North American Free Trade Agreement (NAFTA). The new agreement will be known as the United States-Mexico-Canada Agreement or USMCA.

    US President Donald J. Trump announced the deal at the White House on October 1 describing it as a “brand new deal to terminate and replace NAFTA.” With this breakthrough, Trump has fulfilled his campaign promise to rewrite NAFTA, which he has called “the worst trade deal in history.” The new agreement was negotiated “on the principle of fairness and reciprocity,” said Trump.

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  • Atlantic Council Presents Global Citizen Award to President of Argentina Mauricio Macri

    On September 24, 2018, the Atlantic Council, in its ninth annual Global Citizen Award dinner, presented Argentine President Mauricio Macri with the award for his tireless efforts to renew Argentina’s role as a pivotal global player. The award was also presented to President Macri for his commitment to putting Argentina on a sustainable path, and in doing so, delivering on the promise of a prosperous future for the Argentine people.

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  • IMF Throws Argentina a $57 Billion Lifeline

    On September 24, Mauricio Macri shared a dinner table (some laughs and an animated conversation) with Christine Lagarde in New York City. The Argentine president told guests at the Atlantic Council’s Global Citizen Awards dinner about the great relationship he had with the managing director of the International Monetary Fund (IMF).

    Two days after President Macri was honored with a Global Citizen Award from the Atlantic Council, two days later he received even more good news: the IMF had agreed to increase its support to Argentina to $57.1 billion, the largest loan in the Fund’s history, to be disbursed over three years.

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  • Five Opportunities for Latin America

    As the trade war—marked by tit-for-tat tariffs—between the United States and China escalates, Latin America is looking for opportunities to diversify economic growth. The disruption of global trade flows by the dueling trends of liberalization and protectionism may provide an opportunity for some Latin American governments to pursue politically difficult modernization agendas. Seizing the moment, however, requires policy makers and the private sector to balance short-term opportunism with long-term strategies for durable growth.

    The Atlantic Council’s Adrienne Arsht Latin America Center celebrates the five-year anniversary of its founding this year. This is the first in a series of blog posts to mark this milestone. To kick off the series, we have identified five ways Latin America can make the most of a changing world order.

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  • Conference Call: US-Mexico Trade Deal: Implications and Next Steps

    On Monday, August 27, 2018, President Trump announced that the United States and Mexico reached a deal on several contentious issues in NAFTA, calling it the United States-Mexico Trade Agreement. The Atlantic Council’s Adrienne Arsht Latin America Center, in partnership with the Atlantic Council’s Global Business and Economics Program held a conference call the following day to discuss the implications on NAFTA’s three parties, their respective bilateral relations, and the overall future of North American relations.

    The call featured the following speakers: Jason Marczak, director of the Adrienne Arsht Latin America Center; Valeria Moy, nonresident fellow of the Adrienne Arsht Latin America Center Atlantic Council and director of México, ¿Cómo vamos?; Miguel Noyola, partner and member of the Global International Commercial and Trade Practice Group at Baker McKenzie; and Bart Oosterveld, the C. Boyden Gray fellow on Global Finance and Growth and director of Global Business & Economics Program Atlantic Council.

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  • NAFTA: The End?

    Now that the United States and Mexico have reached a bilateral trade agreement, the focus shifts to Canada—the third partner in the North American Free Trade Agreement (NAFTA).

    “Reaching a US-Mexico trade deal is critical for the US and Mexican economies and for the millions of US workers who depend on trade with our southern neighbor. But it would be a real loss to not incorporate Canada—the number one destination of US exports,” said Jason Marczak, director of the Atlantic Council’s Adrienne Arsht Latin America Center.

    “Across the United States, communities depend on US-Mexico trade and also a smooth functioning trilateral accord,” he added.

    NAFTA, which was signed in 1993, however, may well be entering its final days.

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  • Conference Call: Brazil's Election Takes Shape

    On August 16, the first official day of the Brazilian presidential campaign, the Atlantic Council’s Adrienne Arsht Latin America Center, in partnership with the Brazilian Center for International Relations (CEBRI), hosted the conference call, “Brazil’s Election Takes Shape.” The discussion focused on three primary issue facing the incoming administration: economic reform and trade; political reform; and safety and citizen security.

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  • Brazil Readies For Contentious Presidential Campaign

    In October, voters will have the opportunity to elect a new leader in Brazil, on the hope that the next administration will turn things around for a country still facing economic uncertainty, deep political polarization, and a wide-spread corruption crisis. “We are looking at a new chapter for Brazil,” Roberta Braga, Associate Director of the Atlantic Council’s Adrienne Arsht Latin America Center said in an August 16 conference call.  While currently “the general mood in Brazil is very negative,” according to Ricardo Sennes, nonresident senior Brazil fellow at the Adrienne Arsht Latin America Center, voters will have the chance to pick a president who can address the challenges of high unemployment, political reform, and increasing crime rates.

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