From NAFTA to USMCA
Canada, Mexico and the United States reach new trade agreement.
The North American free-trade pact isn’t dead after all. Up against a hard deadline Sept. 30, Canada and the United States struck a deal that should keep the tripartite trade agreement in place. NAFTA is given a makeover in both content and name — now called the United States-Mexico-Canada Agreement (USMCA).
The agreement reflects some new and some old — a combination of original North American Free Trade Agreement (NAFTA) terms that were negotiated for the defunct Trans-Pacific Partnership (TPP), and new text that addresses the complexity of global trade as it exists today.