December 12, 2019
What’s In The New USMCA?
After six months of negotiations, representatives from the United States, Canada, and Mexico have re-signed an updated version of the United States-Mexico-Canada Agreement (USMCA). AAF’s Director of Trade and Immigration Policy Jacqueline Varas reviews the key changes to the final USMCA.
In summary, Varas finds:
Even with these new changes to the deal, USMCA would not drastically impact North American trade. The North American Free Trade Agreement (NAFTA) had already eliminated virtually all tariffs between the United States, Canada, and Mexico; USMCA does not change that. The changes it does make to NAFTA, however, are a mixed bag.