Updated – Trump No Longer Threatening to Impose Tariffs Mexico (for now)
Update –> In a tweet on June 7th by President Trump, the trade world was notified that the immediate threat of tariffs was officially off the table… for now.
USMCA Replaces NAFTA
After thirteen months of negotiations, the U.S., Mexico, and Canada have created a new trade agreement called the “United States-Mexico-Canada Agreement” (USMCA) on October 1, 2018.
What is the USMCA?
The USMCA is the new trade agreement that builds on and modifies the trade policies created in the North American Free Trade Agreement (NAFTA), which was signed in 1994. The purpose of the USMCA is to align the trade agreement with the current trade environment. Various industries may experience changes due to the USMCA, which could eventually affect individual consumers. […]