We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 29, 20204:44pm

Mexico, USA and Canada face new period after UMSCA signing

The presidents from the three countries have signed today in the Argentinean city of Buenos Aires a new trade agreement that substitutes NAFTA. The treaty still needs to be ratified by all three countries.

Nov 30, 2018 — 4:30pm
MDS
Save

Mexico, USA and Canada face new period after UMSCA singing

 

 

Green light to the new NAFTA. Donald Trump, Enrique Peña Nieto and Justin Trudeau have signed today in Buenos Aries a renewed trade agreement between the three countries that will carry the name UMSCA.

 

The treaty must be ratified by the congresses of the three involved countries before it comes into effect. Despite the signing, the United States has not solved the tariff situation with Mexico and Canada.

 

“This is a model agreement that changes the trade landscape forever”, claimed Trump during the G20 Buenos Aires summit. The president of the United States threatened to quit such agreement several times, qualifying it as “the worst trade deal ever”.

 

The North American Free Trade Agreement (NAFTA) was in force ever since 1994. The signing of the new agreement is produced during the last day of Peña Nieto’s mandate, who will be substituted tomorrow by Andrés Manuel López Obrador.

 

The new treaty agreement was decided during the end of September, thirteen months after the beginning of negotiations. During the first revision of the agreement, the United States intention was to erase the possibility of using raw material that came from outside of Mexico or Canada in the production of clothing items, mainly in order to stop the import of Chinese products into the United States.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...