What Refashioning an Iconic '90s Trade Deal May Look Like

The video discusses the need to modernize NAFTA, a 23-year-old trade agreement, to address current issues like environmental and labor concerns. It highlights potential non-controversial updates, such as pre-clearance of cargo and work visa modernization. However, negotiations are expected to be challenging, with topics like softwood lumber and market access being key bargaining points.

Why is there a need to modernize NAFTA according to the discussion?

• It is a first-generation trade agreement lacking modern concerns.

• It has been too successful and needs scaling down.

• It only benefits one of the three countries involved.

• It has been replaced by the TPP.

Which of the following is considered a non-controversial update to NAFTA?

• Eliminating all trade barriers

• Increasing taxes on imports

• Pre-clearance of cargo

• Introducing new tariffs on goods

What is a potential change to NAFTA regarding legal actions by companies?

• Making it easier for companies to sue governments

• Allowing only Canadian companies to sue governments

• Eliminating the ability for companies to sue governments

• Making it more difficult for companies to sue governments

What is a major point of contention between Canada and the US in NAFTA negotiations?

• Access to the US softwood lumber market

• Access to the Canadian egg market

• Access to the Canadian telecom sector

• Access to the US dairy market

What is the role of softwood lumber in the NAFTA negotiations?

• It is a resolved issue with no further discussions needed.

• It is a bargaining chip for other trade concessions.

• It is not considered important in the negotiations.

• It is the only issue being discussed.