United States, Canada and Mexico reached an agreement on labor, steel and aluminium in a new trade agreement between USA, Mexico and Canada (USMCA), said Tuesday the President of Mexico, andrés Manuel lópez Obrador.
"the Representatives of the governments of Canada and the United States will arrive today in Mexico to sign a trade agreement with USMCA," said Obrador. "We are convinced that it's a good deal for Mexico, Canada and the United States."
In conjunction with the Wall Street Journal, which stated that the United States and China plan to postpone the increase of tariffs, which should enter into force on December 15, the mood in the market changed to positive.
the Agreement was concluded after intensive negotiations with Mexico about claims of the Democrats on the introduction of stricter rules enforcement of labour laws. In addition, one of the main contentious issues were the U.S. to produce cars in the countries – participants of the USMCA of steel, 70% of which was produced in North America. For this, the United States demanded the admission of its inspectors at the Assembly plants of Mexico and Canada.
trump hopes that the adoption of the USMCA can help him in the electoral districts in the Midwest, where his trade war with China caused damage to both the farmers and the equipment manufacturers.
As a candidate three years ago, trump promised to reconsider the trade policy of the United States. However, except for a small update trade agreements of the US with South Korea and the recent limited agreement with Japan, he failed to win a single transaction.
