U.S. President Donald Trump, Canadian Prime Minister Justin Trudeau, and outgoing Mexican President Enrique Peña Nieto concluded fifteen months of often contentious talks on Friday, and formally signed the US-Mexico-Canada agreement, or USMCA, which will replace NAFTA.
Canada remains concerned over steel and aluminum tariffs, imposed by Washington, and left unresolved in USMCA. Prime Minister Trudeau used the signing ceremony as another opportunity to urge President Trump to drop them.
The agreement must now be ratified by the legislatures of each country, which is far from certain. In both the new and old Congress, USMCA faces considerable hurdles, with everyone finding something to dislike.
Traditional business conservatives object to USMCA as moving North America further from free trade, and leaving the United States “with diminished trading opportunities, rather than expanded trading opportunities with Mexico and Canada.”
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