Mexico, Canada and U.S. to sign the USMCA

Cabinet ministers from Mexico, Canada, and the United States will sign a new trade agreement on November 30, Mexico’s Economy Minister said.

The deal will be signed in Buenos Aires, Argentina , the Mexican Economy Minister Ildefonso Guajardo told reporters at an event in Mexico City . Argentina is hosting the G20 international forum for governments and central bank governors.

In regards to tariffs on Mexican steel , he said that they are looking to dialogue with both the national steel sector and the United States , to find a solution, although there are no guarantees.

"There are 22 days left and I think we have some chance of achieving it. The ideal scenario is to eliminate all tariff hostilities, " said Guajardo Villarreal.

He recalled that Mexico and the United States have an economic exchange of over USD $500 billion , and the conflict in steel and the response on the subject of cheeses, pork , and apples , is equivalent to USD $6 billion , only 1.0% of the bilateral relationship.

It was yet to be determined whether the presidents and the prime minister will participate in the signing, Guajardo said.

After over a year of negotiations to revamp the North American Free Trade Agreement , the United States and Canada reached a last-gasp deal in September. Mexico and the United States had already struck a bilateral agreement.

Legislators

from the three countries still have to approve the agreement, officially known as the United States-Mexico-Canada Agreement (USMCA) , before it goes into effect.

USMCA will increase medicine prices in Mexico

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