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President Trump's New NAFTA Deal
Oct 4, 2018 at 12:30 PM
Photo by Keepscases

The Quick Facts

  • On Sunday night, the U.S. and Canada struck a deal to revise the 24-year-old North American Free Trade Agreement (NAFTA), replacing it with a new deal titled the “United States-Mexico-Canada Agreement,” or USMCA.
  • USMCA allowed Canada to rejoin the pact that was made between the U.S. and Mexico in August.
  • The new pact includes enforceable rules to deter countries from artificially weakening their exchange rates to gain trade advantages, a global first.
  • Under the agreement, Mexico and Canada got similar deals that would protect them from any national-security tariffs the Trump administration is considering on vehicles and auto parts.
  • The new agreement must be ratified by Congress next year to take effect.

Food For Thought

What are the pros and cons of the new NAFTA? Is it a better agreement than its predecessor?

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