NAFTA Faces Adjustments Including Name Change After New Trade Agreements

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The United States, Mexico, and Canada all finalized a new trade agreement on Sunday. The deal will give manufacturers in Mexico and Canada extended access to large American markets. However, the deal still leaves some questions about the tariffs on exports to the U.S.

Another addition signed into the deal was a name change. If adopted, the North American Free Trade Agreement will become the United States-Mexico-Canada Agreement.

“It’s not Nafta redone, it’s a brand-new deal,” President Trump said at the White House on Monday.

Some of the new agreements also included requirements for automakers to produce 75 percent of a vehicle's content in North America, in order to receive zero tariffs. That's 13.5 percent more than Nafta's previous requirements.

Canada has also agreed to end their program that originally helped Canadian milk product sellers, now opening the market to even more exported American dairy products.

“Dairy was a deal breaker,” Trump said.

The U.S.M.C.A. also includes side letters that gives 2.6 million imported vehicles from these countries an exemption from any future American tariffs.

Read the full list of new trade agreements on The New York Times.


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