On Sunday, September 30 the United States, Canada, and Mexico announced that they have reached a deal to update NAFTA after over one year of negotiations. The revised NAFTA will now be called the United States-Mexico-Canada Agreement (USMCA).
Several highlights of the USMCA include increased access for U.S. dairy, poultry and eggs into Canada, improved labor and environmental rights, and increased intellectual property provisions. Canada agreed to non-discriminatory wheat grading. The USMCA also included a robust biotechnology section within which a working group for cooperation on agricultural biotechnology was created. For now, the United States’ 25 percent tariffs on steel and 10 percent tariffs on aluminum from Canada and Mexico remain in place.
The release of the text by the Office of the U.S. Trade Representative triggers a 60-day review period before President Trump can sign the agreement. The review period ends on November 30, allowing the USMCA to be signed by the current Mexican administration before the new administration takes office on December 1. Find the full text of the agreement here.