As anticipated, the three NAFTA governments signed the United
States Mexico Canada Agreement (the USMCA) on Nov 30. The USMCA
replaces NAFTA – the countries' historical deal of the
'90s.
Canada has officially named the USMCA as "CUSMA,"
putting Canada first in the order of countries.1 The rest of the
parties have done the same. The Agreement is called the USMCA in
the United States,2 and T-MEC (El Tratado entre
México, Estados Unidos y Canadá)" in
Mexico.3
The scope of the Agreement has, in essence, not departed from
what was published in advance of the signing ceremony. The
Agreement covers the matters on which the three countries were able
to agree "in principle" 4 earlier this fall.5