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 The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada.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.

Archive Related Items

NAFTA Re-Negotiations Begin in Canadian Lumber (& Milk)

4/25/17

from The Gray Area:

4/25/17:

Listen closely to Wilbur Ross's comments about the 20% tariff the US applied to Canadian lumber coming into the US. He points to the fact that if NAFTA was performing the way it was supposed to, the milk issue (and the lumber issue) would not be happening. He further said in answer to a questions, that "every thing relates to everything when you are trying to negotiate".

CNN comments: Trump’s decision to rehash these battles comes just months before he plans to renegotiate NAFTA, the free trade agreement with Canada and Mexico, later this year. Trade experts say all three sides were already challenged to renegotiate a new deal before the end of the year. Trump’s tariffs on Canada add a twist to the time line for NAFTA talks.