USMCA signing to take place this week

Leadership of Mexico and Canada have confirmed the two nations will sign the U.S.-Mexico-Canada Agreement Friday that replaces the North American Free Trade Agreement. Politico reports that Canada’s Justin Trudeau and the outgoing Mexican President will sign the pact on the Mexican official’s last day in office at the G20 Summit, where President Trump is also expected to talk trade with China. The confirmation comes as there is no steel and aluminum tariff resolution for Mexico and Canada, once thought to be a contingent by the two nations. Canadian Finance Minister Bill Morneau last week said Canada was “not going to make one set of negotiations contingent on the other.” Mexico and Canada both had previously threatened to hold off on signing the USMCA until President Trump removed the steel and aluminum tariffs. The tariffs are also thought to limit any gains in the new agreement once in place.

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