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Leaders of the Mexican, Canadian and US governments signed a new trade deal on Friday that affects more than $1.2 trillion in regional commerce and is set to replace the 24-year-old North American Free Trade Agreement (NAFTA).
From the G20 Summit in Argentina, US President Donald Trump, Canadian Prime Minister Justin Trudeau, and Mexican President Enrique Peña Nieto (on his last day in office) presented the agreement known as the United States Mexico Canada Agreement (USMCA).
The USMCA includes 34 chapters, including new ones covering digital trade, intellectual property, anticorruption and good regulatory practices, and it contains new tariff schedules, labor laws and rules on which products can legally be imported or exported, including updated settlements and protections on textiles, agriculture and digital trade.
Trudeau has been referring to the deal as “the new NAFTA,” despite Trump’s heavy criticism of NAFTA, having sought to replace it since he took office in 2017.
Trump agreed on the measures with Mexico in August and Canada last month, and the three countries were able to come together Friday for the ceremonial signing.
In a White House press release, Trump said “This new deal will be the most modern, up-to-date, and balanced trade agreement in the history of our country, with the most advanced protections for workers ever developed.”
The post Mexico, Canada, US leaders sign NAFTA replacement agreement appeared first on JURIST - News - Legal News & Commentary.
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From the G20 Summit in Argentina, US President Donald Trump, Canadian Prime Minister Justin Trudeau, and Mexican President Enrique Peña Nieto (on his last day in office) presented the agreement known as the United States Mexico Canada Agreement (USMCA).
The USMCA includes 34 chapters, including new ones covering digital trade, intellectual property, anticorruption and good regulatory practices, and it contains new tariff schedules, labor laws and rules on which products can legally be imported or exported, including updated settlements and protections on textiles, agriculture and digital trade.
Trudeau has been referring to the deal as “the new NAFTA,” despite Trump’s heavy criticism of NAFTA, having sought to replace it since he took office in 2017.
Trump agreed on the measures with Mexico in August and Canada last month, and the three countries were able to come together Friday for the ceremonial signing.
In a White House press release, Trump said “This new deal will be the most modern, up-to-date, and balanced trade agreement in the history of our country, with the most advanced protections for workers ever developed.”
The post Mexico, Canada, US leaders sign NAFTA replacement agreement appeared first on JURIST - News - Legal News & Commentary.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.