President Signs New Trade Agreement with Mexico And Canada To Replace NAFTA
President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new U.S. Mexico Canada Agreement — or USMCA — in Buenos Aires on Nov. 30.
The agreement provides increased requirements for automotive components to be produced in North America and follows more than a year of talks to update the 24-year-old North American Free Trade Agreement (NAFTA), which supports about $1.2 trillion in annual trade among the three countries in the USMCA.