How the 'New Nafta' Deal Affects the Commodities World

The video discusses the impact of changes in Canadian milk pricing, which affects both Canadian and US dairy farmers. It also covers the implications of trade deals on US corn and hog exports, emphasizing the importance of maintaining export markets. Additionally, the video explores the ongoing discussions about steel and aluminum tariffs in the context of NAFTA negotiations, highlighting the challenges of reaching agreements on quotas.

What was the primary concern for Canadian farmers regarding the change in the milk pricing system?

• Decreased demand for ultrafiltered milk

• Higher costs for butter fat

• Increased competition from US dairy farmers

• Loss of an outlet for skim milk

How might the removal of the Class 7 pricing mechanism benefit US dairy farmers?

• By lowering production costs

• By allowing more imports to Canada

• By reducing competition from Canadian milk

• By increasing cheese prices

Why is maintaining export markets crucial for US corn farmers?

• To increase domestic prices

• To ensure a steady flow of corn to key markets

• To reduce dependency on local markets

• To diversify crop production

What is the main issue in the NAFTA discussions regarding steel and aluminum?

• The inclusion of new tariffs

• The negotiation of quotas

• The removal of all tariffs

• The increase in production costs

How do political dynamics influence the discussion on steel and aluminum tariffs?

• By creating a unified stance among all parties

• By causing division within the industry

• By reducing lobbying efforts

• By aligning Democrats and Republicans on the same side