US, Canada reach NAFTA deal
https://thehill.com/policy/finance/409182-us-canada-reach-nafta-deal-report
The U.S. and Canada have reached a deal on an updated North America Free Trade Agreement (NAFTA) after negotiators in Washington and Ottawa worked furiously into the night to meet a self-imposed midnight Sunday deadline.
The White House announced on Sunday night that Canada, Mexico and the United States have reached a deal to preserve the three-nation agreement.
In a joint statement, U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said that the new deal will "give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region."
"It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home," the two trade ministers said.
An official said the new agreement will be called the United States, Mexico, Canada Agreement, or USMCA.
Trade deal largely spares Canada, Mexico from any Trump auto tariffs
https://www.reuters.com/article/us-trade-nafta-autos-tariffs/trade-deal-largely-spares-canada-mexico-from-any-trump-auto-tariffs-idUSKCN1MB1HL
WASHINGTON (Reuters) - The new U.S.-Mexico-Canada Agreement on trade will preserve President Donald Trump’s ability to impose threatened 25 percent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico, a side-letter to the agreement showed on Monday.
Pickup trucks built in both countries will be exempted entirely, the side-letter said.
Mexico will get an auto parts quota of $108 billion annually, while Canada will get a parts quota of $32.4 billion annually in the event of U.S. autos tariffs. The quotas are significantly above existing production volumes in each country, allowing for some export growth.
Factbox: Details of the new North America free trade deal
https://www.reuters.com/article/us-trade-nafta-factbox/factbox-details-of-the-new-north-america-free-trade-deal-idUSKCN1MB1RE