United States-Mexico-Canada Agreement will replace NAFTA

There is a new US-Canada-Mexico trade deal. The United States-Mexico-Canada Agreement replaces NAFTA. Three North American countries plan to sign before the end of November, after which it would be submitted to Congress.

The negotiations between American and Canadian officials involved offering more market access to U.S. dairy farmers, as well as Canada agreeing to an arrangement effectively capping automobile exports to the United States.

The deal will also modernize what was covered by NAFTA by adding provisions on digital trade and intellectual property.

The new trade pact will come up for review every six years.

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