NAFTA (USMCA)

The North American Free Trade Agreement (NAFTA) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada. The NAFTA trade bloc is one of the largest trade blocs in the world by GDP. After U.S. President Donald Trump took office in January 2017, he sought to replace NAFTA with a new agreement, beginning negotiations with Canada and Mexico. In September 2018, the United States, Mexico, and Canada reached an agreement to replace NAFTA with the United States–Mexico–Canada Agreement (USMCA). NAFTA will remain in force, pending the ratification of the USMCA.

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Democrats and White House Near Accord on Trade Pact, Pelosi Says

12/9/19

from The Wall Street Journal,

12/9/19:

Deal would lead to vote in Congress on renegotiated trade agreement with Mexico, Canada

House Speaker Nancy Pelosi said Democrats were closing in on a deal with the administration that would lead to a vote in Congress on a renegotiated trade agreement with Mexico and Canada. Mrs. Pelosi (D., Calif.) said that Democrats were “within range” of an agreement and focused on the implementing language for the trade pact which would replace the North American Free Trade Agreement. An announcement on the new pact, known as the U.S.-Mexico-Canada Agreement, or USMCA, could come as early as Tuesday, according to several lawmakers.

“There’s no use discussing it any further: we’re either yes or no,” Mrs. Pelosi said

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Democrats and White House Near Accord on Trade Pact, Pelosi Says