The Agreement between the United States of America, the United Mexican States, and Canada[1] is a signed but not ratified free trade agreement between Canada, Mexico, and the United States.
The Agreement is the result of a 2017–2018 renegotiation of NAFTA by its member states, which informally agreed to the terms on September 30, 2018, and formally on October 1.[2] The USMCA was signed by United States President Donald Trump, Mexican President Enrique Peña Nieto, and Canadian Prime Minister Justin Trudeau on November 30, 2018 as a side event of the 2018 G20 Summit in Buenos Aires. Each country's legislature still must ratify the agreement.
Negotiations "focused largely on auto exports, steel and aluminum tariffs, and the dairy, egg, and poultry markets. One provision "prevents any party from passing laws that restrict the cross-border flow of data".[3] Compared to NAFTA, USMCA increases environmental and labour regulations, and incentivizes more domestic production of cars and trucks.[4] The agreement also provides updated intellectual property protections, gives the United States more access to Canada's dairy market, imposes a quota for Canadian and Mexican automotive production, and increases the duty free limit for Canadians who buy U.S. goods online from $20 to $150.[5]
