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NAFTA deal now USMCA: US and Canada agree to replace trade pact

The leaders of Canada, Mexico, and the United States are touting the successes of the two recently-secured trade deals that will replace NAFTA and be known as the USMCA (United States-Mexico-Canada Agreement). The U.S. and Canada only just reached a deal late on Sunday, which will reportedly increase U.S. dairy access in Canada, cap Canadian auto exports to the U.S., and modernize elements of NAFTA concerning digital trade and intellectual property. The pact will be reviewed every six years, a function that U.S. negotiators highlighted as a way to ensure its ongoing suitability to American needs. “It’s a good day for Canada,” announced Canadian Prime Minister Justin Trudeau, while the lead Mexican negotiator claimed that the deal “closes the door on trade fragmentation in the region.”

Source: NAFTA deal now USMCA: US and Canada agree to replace trade pact

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