United States–Mexico–Canada Agreement
The United States–Mexico–Canada Agreement (USMCA; Spanish: Acuerdo Estados Unidos-México-Canadá, AEUMC; French: Accord États-Unis-Mexique-Canada, AÉUMC) is a pending free trade agreement between Canada, Mexico, and the United States. It is to replace the current North American Free Trade Agreement (NAFTA). It is the result of the 2017–2018 renegotiation of NAFTA by its member states, which informally agreed to the terms on September 30, 2018, and formally on October 1. Final approval date is currently unknown and set to be approved by U.S. President Donald Trump, Mexican President Enrique Peña Nieto and Prime Minister Justin Trudeau.
Compared to NAFTA, the agreement gives the U.S. more access to Canada's $19 billion dairy market, more domestic production of cars and trucks, increases environmental and labor regulations, and introduces updated intellectual property protections.
References[change | change source]
- Dangerfield, Katie (2018-08-30). "NAFTA deal reached: Canada, U.S., Mexico reach trade agreement under new name". Global News. Retrieved 2018-10-01.