On September 30, 2018, hours before a deadline that mandated the
publication of a modernized NAFTA text, the United States, Mexico,
and Canada agreed to an updated trade agreement after more than a
year of negotiations. The 1994 North American Free Trade Agreement
(NAFTA) was originally implemented to promote economic growth and
the harmonization of trade standards throughout the continent;
however, critics of the deal believed it to be outdated in many
respects. Key issues at the negotiating table included automotive
content rules of origin, access to government procurement, various
dispute resolution chapters, labor standards, agricultural
safeguards, and much more.
The new agreement will be known as the United
States-Mexico-Canada Agreement, or USMCA, and will now head back to
the respective legislative bodies of the three nations for domestic
implementation. While many of the main provisions won't take
effect until 2020, it is critical for U.S. businesses to
