The barrage of new technologies that are introduced to the market, each with the promise of altering (or at least affecting) the corporate world, can easily make one numb. However, our examination of a few of the more important IT trends makes a strong argument for the fact that something important is taking place. Granularity, speed, and scale—the three key elements that have characterized the digital era—are typically being accelerated by these technological advancements. However, the extent of these shifts in bandwidth, computer power, and analytical complexity is what's creating new opportunities for organizations, inventions, and business models. Greater innovation may be made possible by the exponential gains in processing power and network speeds brought about by the cloud and 5G, for instance. Advances in the metaverse of augmented and virtual reality provide opportunities for immersive learning and virtual R&D using digital twins, for example. Technological development
More than two million American jobs are supported by Canadian trade and industry. Nearly $300 billion in exports also help thousands of communities across the country. There is a strong economic relationship between the United States and Canada. It is based on shared values, close ties between people, and the U.S.-Mexico-Canada deal (USMCA), a trade deal that makes North America more competitive. Find out how the relationship between the U.S. and Canada helps your state or congressional district and tell others about it.
NAFTA, or the North American Free Trade Agreement, got rid of most of the hurdles to trade between the U.S., Canada, and Mexico on January 1, 1994. Some of its rules went into effect right away, while others were put in place gradually over the next 15 years. During his campaign, U.S. President Donald Trump railed against it and said he would renegotiate the deal and "tear it up" if the US couldn't get the changes it wanted. In 2020, the United States, Mexico, and Canada agreed to a new deal called USMCA to replace NAFTA.
How will the new trade deal between the US, Canada, and Mexico change your life?
What I think as a Canadian living in Southern Ontario at the age of 80. It's not really "US-Canada-Mexico," but the "US Mexico Canada Agreement," or "USMCA." A new name? Trump was the only one who said "NAFTA" was a bad word. He had to come up with a new name without that word. He came up with the name "USMCA," which is pronounced "you smack-er." That's aimed at Chrystia Freeland of Canada, who beat Trump in every way. Wow, a woman! Trump doesn't like her because of this.
Anyway, "new NAFTA" is just "old NAFTA" with a few small changes that don't hurt or help anyone. It's basically a "Don't mess with NAFTA" deal that keeps things the same. From the start, that's what all three countries wanted. Now that I'm retired, I have to look at the big picture. The new deal is good for Ontario as a whole. That's where most of our manufacturing is done, especially car assembly and auto parts. Whether you trade with one of the three North American giants or all three, the relationships are important. In fact, if you trade with one, you're probably also dealing with the other two, too, even if the label doesn't say which country it is.
Why does the US like Canada more than Mexico?
Near the capitals of each country, people speak the same language, live in the same area, share the same culture, and have a lot of experience in common. But things don't stay the same. To begin, let us make it clear that the three biggest countries in North America get along well with each other. I don't think this will change unless a dictator takes over and doesn't want to help their own country, which I think will happen for a long time. There is a part of Canada that speaks French and a roughly defined geographic area, but French can be used all over the country. Similarly, there is a part of the US that speaks Spanish and a roughly defined geographic area in the southwest. It's true that big choices about foreign policy are made in Mexico City, Ottawa, and Washington, DC, but only in the big picture. Since the US became independent, Canada has had to look at the US first because most of its people live along the border with the US. For example, Ottawa is only a 10-hour drive from Washington, DC, while Mexico City is 38 hours away, through sometimes lightly populated land.
The fate of trade
It's interesting that while all three countries have benefited from NAFTA, the US and Mexico's economies have become more closely linked. In fact, during the renegotiation of NAFTA to USMCA, when Canada was being tough on a certain issue (green energy targets), it was Mexico and the US who reached a deal without Canadian negotiators present. They came with the language already prepared and said, "Take it (the treaty) or leave it," which shocked Canadian negotiators. Together, Canada and Mexico are now tied for second place as the US's top trade partner. In 2022 and 2023, Mexico passed Canada to become the US's top trading partner. Trade between Canada and Mexico is also growing quickly. Along with the US, China, and Japan, Canada is Mexico's fourth biggest trading partner. Increasing their trade also means they become closer friends, and it turns out they do share some interests. When I went to Canada and showed someone my Mexican passport, I got the best "geopolitical rib" joke: "Mexicans and Canadians get along so well, we only have one big problem between us."
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