US President Donald Trump has signed the new USMCA North American trade pact with Canada and Mexico into law, pronouncing a glorious future for US industry. The signing ceremony event in Washington featured hundreds of business and farm leaders from around the country and scores of Republican officials. No Democratic members of Congress were on the White House guest list.
Daily Current Affairs Quiz 2020
The USMCA, crafted over years of negotiation between the three countries, replaces the 1994 North American Free Trade Agreement, or NAFTA. North American Free Trade Agreement is signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. It also makes changes to e-commerce, intellectual property protections and dispute settlement for investors, as well as imposing tougher labor provisions, requiring reforms to Mexico’s laws.
