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U.S. Commerce Secretary Ross said Friday that a "poison pill" clause in the recently concluded U.S. -Mexican trade agreement (USMCA) aimed at blocking trade agreements with China could be duplicated in future trade agreements with other U.S. trading partners to increase pressure on China to open its markets.
In an interview with Reuters, Ross said the clause was "a measure to plug loopholes in trade agreements" that legalized China's trade, intellectual property and industry subsidies.
The United States is currently engaged in preliminary trade negotiations with Japan and the European Union to reduce tariffs and regulatory barriers and reduce the United States trade deficit in automobiles and other goods.
If the EU and Japan sign similar terms with the New US-Mexico-Canada trade agreement, it will show that the two countries and the United States stand in full agreement and hope to increase pressure on China to make major economic policy changes.
This provision of the USMCA, in fact, gives Washington the veto power over the FTAs signed by Canada and Mexico with other countries to ensure that these FTAs are market economies and that countries do not dominate the economy, which is the core appeal of the Trump administration to wage a tariff war against China.
Under this provision, if any one of the USMCA countries signs a trade agreement with a "non-market economy country", the other two countries can withdraw freely within six months and reach a bilateral trade agreement.


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