2018 December Board Book

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USMCA Negotiations Finalized As part of the overall balance of concessions in the new agreement, Canada agreed to the following: • New market access for the U.S. in the form of tariff rate quotas for dairy, poultry and egg products. • Ensure the elimination of current milk classes 6 and 7; component prices for certain products in these classes will be calculated using a U.S. reference price. • Establish a mechanism to monitor exports of skim milk powder, milk protein concentrates and infant formula. Having agreed on key issues, the USMCA Parties will work on refining the text with a view to preparing a full final text of the concluded agreement in English, French and Spanish. Pesident Trump, Canadian Prime Minister Justin Trudeau, and Mexican President Enrique Peña Nieto then have to sign the agreement, which they plan to do before Peña Nieto leaves office at the end of November (perhaps at the G20 Summit in Buenos Aires that month).