The New NAFTA: USMCA
After 24 years of NAFTA, and almost a year of negotiations, the US, Canada, and Mexico struck a new trade deal this past Sunday, September, 30. The new deal will replace NAFTA and is now called is the United State-Mexico-Canada Agreement (USMCA).
The major changes were focused on the automotive, dairy, and pharmaceutical industries, as well as provisions for labor, environmental rights, and intellectual property. The USMCA, however, will not change the measures currently in place that protect aluminum, steel, or softwood lumber.