According to a report by the New York City public tank report, Council on Foreign Relations (CFR), bilateral agricultural trade tripled between 1994 and 2017 and is considered one of the main economic effects of NAFTA on trade between the United States and Canada, with Canada becoming the largest importer of U.S. agricultural sectors. [64] Fears of job losses in the U.S. manufacturing sector were not due to the fact that manufacturing employment remained “stable”. Given Canada`s labour productivity, which rose to 72% of the U.S. level, hopes of closing the “productivity gap” between the two countries were also not realized. [64] In 2019, bilateral trade between Germany and Vietnam amounted to about 14 billion euros. The stock of German direct investment in Vietnam amounted to about 840 million euros in 2017. More than 300 German companies are currently active in the Vietnamese market. A fourth round of talks included a U.S. request for a sunset clause that would end the agreement in five years unless the three countries agreed to keep it in place, a provision that U.S. Commerce Secretary Wilbur Ross said would allow to kill countries if it didn`t work.
Canadian Prime Minister Justin Trudeau met with the House Ways and Means Committee because Congress would have to pass legislation that re-releases the treaty provisions if Trump tries to pull out of the pact. [136] The fourth EU Implementation Report (Other Languages), published in November 2020 and preceded by the preface by the Directorate-General for Trade, Sabine Weyand (other languages), provides an overview of the successes in 2019 and remarkable work for the EU`s 36 main preferential trade agreements. The accompanying staff working document provides detailed information in accordance with the trade agreement and trading partners. Many small U.S. companies under NAFTA depended on exporting their products to Canada or Mexico. According to the U.S. Trade Representative, this trade has supported more than 140,000 small and medium-sized enterprises in the United States. [94] The EU is New Zealand`s second largest trading partner. In 2019, the volume of trade amounted to more than 9 billion euros. Agricultural products account for the largest share of New Zealand`s exports to the EU, while the EU mainly exports finished and industrial products to New Zealand. In 2019, Germany`s trade surplus with New Zealand amounted to 2.7 billion euros and EU companies accounted for more than 10 billion euros of foreign direct investment in New Zealand.
The updated chapter on financial services contains commitments to liberalize financial services markets and facilitate a level playing field for U.S. financial institutions, investors and investments in financial institutions, as well as cross-border financial services exchanges. The chapter also retains the discretion of financial supervisors to ensure financial stability.