The United States of America, Mexico and Canada will sign the new trade agreement (USMCA) on Nov 30, 2018. The USMCA agreement signing is to take place in Buenos Aires, Argentina as the G20 International forum is being hosted by Argentina.
The USMCA is anticipated to come into force on January 1, 2020, and will affect many industries including oil and gas, automotive, agriculture, textiles and apparel, alcoholic beverages, and many others.
On September 30, 2018, Canada and the United States resolved outstanding trade issues and announced that they, together with Mexico, agreed to a trilateral United States-Mexico-Canada Agreement (USMCA). Once ratified by the three countries, the USMCA will replace the existing trilateral North American Free Trade Agreement (NAFTA), which has been in place between the three countries since 1994.
The USMCA is a complex agreement, comprising 34 chapters, numerous annexes, and a number of side letters, all of which contain details of the new rules.
Visit our dedicated webpage section on NAFTA (USMCA) for key changes in the agreement, background and more.