On September 30, 2018, the United States, Mexico and Canada
reached a new trade agreement, the United
States–Mexico-Canada Agreement
("USMCA"). This agreement maintains a
free-trade zone between the three countries and could be signed
prior to December 1, 2018. The remaining hurdle will then be for
the USMCA to be ratified by each country, including a mandatory
60-day review period by the US Congress.
While the USMCA will usher in a number of changes to the
US-Mexico-Canada trade dynamic, five changes are expected to have a
significant impact on Canadians businesses.
1. Increased Access to Supply-Managed Industries
Under the USMCA, the US will gain greater access to key Canadian
supply-managed industries, including the dairy industry. The USMCA
stipulates that American farmers will have tariff-free access to
3.6% of Canada's dairy market, resulting in hundreds of
millions of dollars of product entering the Canadian market. Other
important Canadian concessions
