USMCA a Framework for Future Trade Deals

Dan Industry News Release, Trade

A White House adviser says the U.S.-Mexico-Canada Agreement (USMCA) is a model for future trade agreements. USMCA will replace the North American Free Trade Agreement (NAFTA), if approved.

usmcaKevin Hassett, chairman of the White House Council of Economic Advisers, said this week that other potential agreements will “look very much alike, and very much like this,” according to Politico. His comments come as the Trump administration this week announced the intention to seek bilateral free trade agreements with Japan, The European Union and The United Kingdom. However, the Trump administration this week also threatened to apply tariffs on Europe’s auto industry. That is also similar to the NAFTA talks, as the U.S. pledged, and threatened, tariffs, depending on how the negotiations were moving.

The U.S. and the EU first agreed to explore an agreement this summer.

Source: National Association of Farm Broadcasting News Service.