Trump Signs new North American trade deal with Canada & Mexico

Trump Signs new North American trade deal with Canada & Mexico

• US President Donald Trump signed the new North American trade pact with Canada and Mexico, known as “U.S.-Mexico-Canada Agreement (USMCA)” on 29 January 2020.
• The USMCA will replace the 25-year-old North American Free Trade Agreement (NAFTA), that was entered into in 1994 between the three countries.
• The new pact is an updated version of NAFTA to include the rise of e-commerce and other aspects of the digital economy that didn’t existed when NAFTA was negotiated.