Federal Spotlight: Canada Joins Agreement with U.S. and Mexico on Trade
October 4, 2018
The U.S.-Mexico-Canada Agreement (USMCA) was announced Monday by President Trump. Some of the highlights of the $1.2 trillion pact include increasing the auto rules of origin, strengthening standards designed to protect intellectual property of American companies, Canada allowing greater access to its dairy market and higher wages for Mexican auto workers, which is meant to remove the competitive advantage Mexico has over the U.S. in that regard. It could take months to officially put the agreement in place as President Trump, Prime Minister Justin Trudeau and President Enrique Pena Nieto must sign the deal and then have Congress and the legislatures of Mexico and Canada ratify it.
Read more about the arrangement below: