White House Announces New NAFTA Deal with Mexico
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On August 27, President Donald Trump announced that U.S. and Mexico have reached an accord to revise several key provisions of the North American Free Trade Agreement (NAFTA) and it should be finalized within the next few days. President Trump also suggested that Canada could be left behind from the current trilateral trade pact if an agreement was not reached quickly.
White House officials said the agreement would set higher “Made in America” standards for vehicles, boost wages for Mexican workers, keep agricultural products free of tariffs, establish increased environmental standards in Mexico, and overhaul rules to protect copyrights and intellectual property.
There is much desire from the Trump Administration, representatives from the Mexico government and members of Congress to have Canada join this agreement.
U.S. Trade Representative Robert Lighthizer said the U.S.-Mexico deal would be submitted to Congress for a required 90-day holdover, setting up a signing ceremony in November.
