USMCA: The new trilateral agreement signed by Canada, the US, and Mexico

Canada and the United States reached an agreement that ensures Canada's permanence in the NAFTA, with Mexico as its other partner.
USMCA: The new trilateral agreement signed by Canada, the US, and Mexico
The negotiations have lasted for over a year – Photo: Rebecca Cook/EL UNIVERSAL
01/10/2018
15:01
Mexico City
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Canada and the United States reached an agreement that ensures Canada's permanence in the NAFTA, with Mexico as its other partner.

After a year of negotiations between the three countries, the NAFTA, now called USMCA, which dissipates the possibility of a fragmentation of the agreement into two bilateral deals. An official statement is expected today.

After the agreement was achieved today, the plan is to sign the treaty of November 29 or 30, while President Peña Nieto is still in office.

On Sunday, at 10:30 pm, the Deputy Minister of Foreign Trade, Juan Carlos Baker, delivered the document to the president of the Political Coordination Board in the Senate, Ricardo Monreal.

After receiving the document, the Morena's Senator said that the agreement will be available in the Senate's website and that they will start analyzing the agreement, and will only approve it if benefits the sovereignty of Mexicans.

The White House also delivered the document to the US Congress. Meanwhile, Canada's Prime Minister, Justin Trudeau, called for an urgent meeting with his cabinet, to inform them about the end of the negotiations.

Everyone is in a rush to sign the agreement because Trump's administration claimed that if they didn't reach an agreement with Peña Nieto's government, they would have to renegotiate with Andrés Manuel López Obrador's administration. Also, they are looking to use the agreement in favor of Trump, in the face of the incoming elections to renovate the Congress, which takes place next month.

According to sources close to the negotiation process, the Canadians relinquished in one of the most conflicting issues with the US, by allowing a larger access of dairy products, and by reducing the tariffs imposed on the maple leaves, to protect the poultry and dairy producers.

According to Robert Lighthinzer, and Chrystia Freeland, the USMCA will give “our workers, farmers, ranchers, and companies, an agreement with the highest standards, which will result in free markets, fair trade, and a stronger economic growth for the region. It will strengthen the middle class, it will create jobs with good salaries and new opportunities”.

Justin Trudeau, Donald Trump, and Peña Nieto all released statements on social media to express their satisfaction with the new agreement.

On Monday, President Enrique Pena Nieto said that the trade agreement finalized on Sunday between the United States, Mexico, and Canada will consolidate the region as one of the most competitive ones in the world.

Nevertheless, the new trade agreement between the United States, Mexico, and Canada could go into effect during the second half of 2019, Mexican Economy Minister Ildefonso Guajardo said.

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