The new NAFTA is effective as of July 1

The new NAFTA is effective as of July 1


July 4, 2020

Global Korean Post


The new NAFTA which is the United States-Mexico-Canada Agreement (USMCA) entered into force on July 1.


The agreement will drive job creation and includes the strongest, most advanced, and comprehensive set of labor provisions of any trade agreement.


The new NAFTA preserves the important benefits of NAFTA, modernizes the agreement, and makes it easier for Canadian companies to benefit from preferential access to the U.S and Mexican markets.


American farmers will have access to fairer markets in Canada and Mexico, opening up more opportunities to export their goods.


Canada safeguards more than $2-billion a day in cross-border trade and tariff-free access for 99.9 per cent of Canada’s U.S.-bound exports.

It will preserve tariff-free access to the largest trading partner, supporting hundreds of thousands of Canadian jobs, now and into the future.


by Global Korean Post with files