The U.S.-Mexico-Canada Agreement to Target Manufacturing
Returning the US to the manufacturing stage as a major powerhouse, the new free trade agreement targets manufacturing, farming, and ranching industries across North America as a three-way trade zone valued at $1.2 trillion (€1.03 trillion). Stimulating job growth with good well-paying jobs, the agreement is directed at strengthening the middle class and is the biggest in US history of international trade deals.
This will enable North America to compete more directly with China’s manufacturing and bring some business back to the three-way trade zone. President Trump is denying to speak with China on a new trade deal; Congress has yet the pass the US-Mexico-Canada Agreement. The agreement comes as the US dollar backing international transactions has dropped substantially as institutions began preparing for transitions towards the International Monetary Fund (IMF) backed global currency. Russia, China, and other countries over the last year have already begun such transitions towards an IMF managed global currency by replacing the US dollar with the Yuan. Recently the IMF made its largest loan agreement in history to Argentina for the amount of $57.1 billion to meet its foreign currency debt. The IMF plans to globalize central banking with loans by serving as the collection agency for the international banking industry.
“The rich countries have made this $500 billion available to stimulate their own banks, and the IMF is a wonderful party to put in between the countries and the debtors and the banks.”
The US dollar has been losing value as a result of this effort. “In fact, the move is designed not to serve us but the banks. The dollar needs to be devalued to compensate for a dilemma in the current monetary scheme that is even more intractable than Triffin’s, one that might be called a fraud. There is never enough money to cover the outstanding debt, because all money today except coins is created by banks in the form of loans, and more money is always owed back to the banks than they advance when they create their loans. Banks create the principal but not the interest necessary to pay their loans back.”
The new NAFTA or U.S.-Mexico-Canada Agreement may also also strengthen the value of the dollar. Mexico President Enrique Pena Nieto said the agreement as a “win-win-win.” Mexico was one of the first Latin American countries to default on its foreign debt accepting a 4 billion loan from the IMF in 1982. Canada’s economy has also been strained recently according to IMF reports. Canada will open up approximately 3.5% of its dairy market to producers in the US and tariff exemptions will apply to 2.6 million automobiles manufactured in Mexico or Canada.