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The deal already faces an uphill battle among Democrats now in control of the House of Representatives, who have voiced concerns about the enforcement of labor rights provisions in Mexico and USMCA’s effect on drug prices. Canada and Mexico are seeking exemption from U.S. tariffs on global metal imports imposed last year. A major question mark is whether tighter regional content rules for the automotive sector will be a positive or negative in the report. USMCA requires that 75 percent of a vehicle’s value be made in North America, with 40 to 45 percent produced in high-wage areas paying at least $16 an hour, requiring significant automotive production in the United States and Canada.

The Trump administration had hailed the provision as a centerpiece of USMCA that would stem the flow of automotive jobs to Mexico and incentivize “billions annually in new U.S, vehicle and auto parts production.” Commerce Secretary Wilbur Ross said at one point the deal would bring back “the vast majority” of the 250,000 auto parts jobs lost over the years, But economists from the International Monetary Fund analyzed the deal using the same economic model used by the ITC and found a negligible impact on U.S, GDP over the medium term, but designer cufflinks sale a slight loss of $794 million in consumption, a broader measure of economic benefit, due to reduced activity in autos and textiles..

“The results show that the tighter rules of origin in the auto sector and the labor value content requirement would not achieve their desired outcomes,” the IMF researchers said in the paper, published in late March. “The new rules lead to a decline in the production of vehicles and parts in all three North-American countries, with shifts toward greater sourcing of both vehicles and parts from outside of the region.”. A spokeswoman for the U.S. Trade Representative’s office declined to comment on a query about plans for an alternative analysis.

In 2016, the ITC’s report on the Trans-Pacific Partnership trade deal showed that by its 15th year, the reduced tariffs and increased trade among the 12 member countries would boost U.S, GDP by 0.15 percent, or $42.3 billion, compared with no deal, Employment designer cufflinks sale in the TPP analysis would be higher by about 128,000 full-time equivalent jobs, While automotive exports would increase over the long term, auto imports from Japan would rise in the near term, Trump withdrew from the TPP in 2017 in one of his first actions as president..

The U.S. Chamber of Commerce also sought to temper the expected impact of the trade commission’s report on USMCA by pointing out that ITC had traditionally focused just on goods tariff reductions. “In this case, the USMCA eliminates some remaining Canadian barriers facing U.S. dairy and poultry exports, but the bottom line is that there just aren’t many tariffs left to cut,” John Murphy, the Chamber’s senior vice president for international policy, said in a blog posting on Tuesday.

He said members of Congress should keep designer cufflinks sale in mind the bigger picture of NAFTA’s importance to the U.S, economy, with $1.4 trillion in trade among the three countries last year, Trump has frequently threatened to withdraw from NAFTA if Congress fails to approve USMCA, a scenario that experts have said would lead to widespread economic damage as tariffs among the three countries snap back to 1994 levels, spiking costs for auto production and crippling U.S, agricultural exports, “Looking at USMCA against a baseline of no NAFTA, it’s a big gain,” said Gary Hufbauer a senior fellow at the Peterson Institute for International Economics..

NEW YORK (Reuters) - JPMorgan Chase & Co shuffled the jobs of two of its most senior women executives on Wednesday, moving Chief Financial Officer Marianne Lake to a role leading consumer lending and naming the head of card services Jenn Piepszak to replace her. The moves, which take effect on May 1, were announced in an internal memo signed by Chief Executive Officer Jamie Dimon and the bank’s two co-presidents. During the 13 years that Dimon has run the bank, he has made it a practice to move even top executives into different roles to give them more experience across the banking franchise.

The new role will give Lake, who has been indicated as a likely successor to Dimon, designer cufflinks sale her first opportunity to run one of the bank’s business, a key qualification that was missing from her resume, Lake has won praise from investors and Wall Street analysts for handling the CFO job and Dimon’s demands, “No one likes change especially given how exceptional a CFO Marianne Lake has been,” wrote Susan Katzke, a bank analyst at Credit Suisse, “We are surprised but not shocked, Talent management comes with change.”..

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