USA, Canada and Mexico signed a new agreement instead of NAFTA

США, Канада и Мексика подписали новое соглашение вместо NAFTA

A new agreement between the US, Canada and Mexico for the first time USMCA will cover the financial services sector and digital economy.

The US President Donald trump, Prime Minister of Canada Justin Trudeau and Mexican President Enrique peña Nieto on Friday, 30 November, on the sidelines of the G20 summit signed a new trade agreement – USMCA, replacing the suspended action of the NAFTA. It is reported by Interfax.

Stated that the NAFTA, which operated since 1994 will be cancelled. The new agreement USMCA will first cover the financial services sector and digital economy.

Trump previously called USMCA most modern and balanced trade deal in U.S. history.

It is known that in the course of negotiations with Canada and Mexico, trump threatened to abandon NAFTA or replace it with bilateral agreements, if Mexico and Canada does not make concessions in the sphere of foreign trade. Canada agreed to join a tripartite agreement at the last moment.

As reported, the trade of the United States, Mexico and Canada exceed $1 trillion per year.

The revision of NAFTA or the rejection of it was one of the campaign promises trump. According to him, the transaction was disadvantageous to the United States, and he called her “one of the worst trade agreements”.

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