Canada Agrees To New NAFTA Deal
Canada has joined America and Mexico by agreeing to the North Amercian trade deal now titled USMCA.
President Trump has harped over the unfair trade deals since he was running in the primaries. After a year of negotiating All three North America nation have agreed in principle to a new trade deal. The new rules of the deal are not expected to come in play until the year 2020 due to some obligatory actions and the actual signing of the new deal from the nation’s leaders.
For starters, it will no longer be called NAFTA. Which stood for North Amercian Free Trade Agreement. The new deal is called the U.S.-Mexico-Canada Agreement or USMCA for short.
One of the highlights of the deal affects the automobile industry. The new USMCA requires that 75% of a vehicle to be manufactured in North America to qualify for zero tariffs.
America will also have more access to export dairy products into Canada which should benefit Amercian farmer a great deal.
Trump was unwilling to remove the tariffs on steel and aluminum but left the door open to possible working out something out with Mexico and Canada before the trade deal is made final.