The entry into force of the United States Mexico Canada Agreement (USMCA) today is being celebrated by automotive suppliers and steel producers in North America.
USMCA, signed into law in January, replaces the North American Free Trade Agreement (NAFTA). According to the Trump Administration, the agreement will expand U.S. manufacturing and is vital for the auto industry. Negotiated in 2018, USMCA also contains new protections for American intellectual property, digital trade provisions and stronger environmental standards.
According to Motor & Equipment Manufacturers Association (MEMA), it believes the pact is a strong bipartisan achievement by both Congress and the Trump