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 free trade agreement between Canada, Mexico, and the United States, replacing the previous 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. The agreement came into effect on July 1, 2020.
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.
- "U.S. seals the deal on USMCA, says trade agreement can now take effect July 1 | CBC News". CBC. Retrieved 2020-10-18.
- "New North American trade deal to come into effect in July". Deutsche Welle. 25 April 2020. Retrieved 18 October 2020.