At the end of 2018, the Trump administration finalized the renegotiated North American Free Trade Agreement, resulting in a new trade deal now called the United States-Mexico-Canada Agreement. This milestone is good news and a big win for the United States and its North American allies.
The new agreement not only modernizes a quarter-century-old trade in an era of significant technological advancements such as e-commerce, but also renews and strengthens the positive impacts NAFTA has on U.S. businesses, manufacturing, jobs, and the economy. According to the U.S. International Trade Commission, the USMCA would increase U.S. exports to Canada and Mexico by $19.1 billion (5.9%) and $14.2 billion (6.7%), respectively.
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