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Canada’s foreign minister said she agreed with U.S. House Speaker Nancy Pelosi’s desire to update the deal’s language to make prescription drugs and increase protection for unions. However, Freeland said reopening the deal could be a “Pandora’s box.” (Globe and Mail)

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Talking point: U.S. Democrats, who have a majority of seats in the House of Representatives—which will need to approve the deal—have repeatedly said they will not support the USMCA as currently agreed to. On Thursday, Freeland said Canada might refuse to ratify the deal if tariffs on aluminum and steel remain in place, echoing a similar threat she made last week. Some Republican lawmakers have pressured U.S. President Donald Trump to lift the tariffs, but he has so far refused to do so. Both countries are running short on time to ratify the deal prior to Canadian federal elections in 2019 and U.S. presidential elections in 2020.

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The foreign affairs minister is holding a news conference this afternoon to discuss extradition procedures, a day after a Vancouver judge ruled that Meng Wanzhou, Huawei’s chief financial officer, can be released on bail of $10 million while awaiting extradition to the United States to face charges of violation U.S. sanction laws with Iran. (Reuters)

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Talking point: Following the court ruling, U.S. President Donald Trump said he’s prepared to intervene in the extradition, which Meng is currently fighting. If a Canadian judge rules in favour of extraditing Meng, Canada’s justice minister will then decide whether to fulfill the request. Trump’s threat to intervene in that decision places added pressure on Canada as it tries to balance its ties with U.S. and China amid an intensifying trade war.

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The agreement now includes a committee to monitor whether Mexico is following its labour standards and ways to monitor compliance with environmental rules. Protections against generic competition for biologic drugs have been removed. (CNBC)

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Talking point: U.S. House Speaker Nancy Pelosi said the updated treaty is “infinitely better” than the original, increasing its chances of passing a ratification vote, likely before the end of the year. The Mexican and Canadian legislatures also need to approve the new text, but Ottawa has agreed—Deputy Prime Minister Chrystia Freeland signed the deal in Mexico City on Tuesday afternoon. While the labour and environmental enforcement measures focus on Mexico, Canada will benefit from the drug provision changes. In June, The Logic reported that the federal government expected the removed provisions to raise medicine costs and make treatment less accessible to patients.

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The U.S. House Speaker wants to get rid of language that absolves tech firms from responsibility for content created on their platforms. (The Wall Street Journal)

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Talking point: Large tech firms have been trying for years to enshrine immunity provisions in trade agreements. Google, for example, unsuccessfully pushed for similar language in the Trans-Pacific Partnership and the Trade in Services Agreement. Pelosi’s pushback comes as a growing number of U.S. lawmakers are considering changing domestic laws that grant tech firms immunity over content on their platforms. It also follows a Washington, D.C. visit by Chrystia Freeland, Canada’s deputy prime minister, to try and get USMCA passed. Stripping the immunity provisions is far from a done deal, since the Trump administration is indicating it wants to keep them. There are a number of other outstanding negotiation points. For example, the U.S. is pushing for expanded labour protections, but on Tuesday, Mexican President Andrés Manuel López Obrador said he wasn’t open to further changes on that front.

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The new cabinet features 36 members, including Chrystia Freeland as deputy prime minister and minister for intergovernmental affairs. She also retains responsibility for U.S. relations, having spearheaded USMCA negotiations. (The Logic)

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Talking point: Most powerful ministers kept their jobs. Bill Morneau remains finance minister, Harjit Sajjan defence minister and David Lametti justice minister. There are a few notable exceptions beyond Freeland, with former trade minister François-Philippe Champagne moving to Global Affairs. The portfolios that most directly affect the innovation economy are held by cabinet veterans. In addition to Bains and Morneau, Mélanie Joly becomes minister of economic development, taking over responsibility for the regional economic development agencies that had been part of Bains’s ministry. Joyce Murray remains minister of digital government, making Canada one of the few governments with a cabinet-level role devoted to its own technology.