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ARTICLE · 12 OCTOBER 2018

NAFTA 2.0: The USMCA – More An Evolution Than A Revolution

It has been 13 months since US President Donald Trump initiated the renegotiation of the North American Free Trade Agreement (NAFTA).

GlobalGovernment, Public Sector

Overview

It has been 13 months since US President Donald Trump initiated the renegotiation of the North American Free Trade Agreement (NAFTA). During that time, officials under Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto have engaged in intensive negotiations, while managing rapidly-evolving political challenges. Despite these challenges, the US and Mexico finalized an Agreement in Principle on August 27, 2018, and just a day before President Trump's October 1, 2018 deadline, all three countries settled on what is now known as the US-Mexico-Canada Agreement (USMCA).1

We anticipate the three leaders will sign the USMCA at the G20 Summit in Buenos Aires, Argentina (taking place from November 30 to December 1, 2018). While the USMCA is a major milestone that strengthens confidence and integration in the North American market, the legislatures of each country will be required to ratify the deal. Until this time, the possibility that

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