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At the G20 summit have signed an agreement USMCA

7 December 2018

Recently hosted the G20 summit in Buenos Aires. Between the heads of the three States signed a new trade agreement. It is called the USMCA. The document is a replacement of NAFTA, which operated from 1994. He was signed by the heads of such countries: USA, Canada and Mexico. Naturally, the agreement has not yet entered into force. It must be ratified by the parliaments of participating States. It is expected that Canada and Mexico will decide in favor of the document. As for the US, there may emerge significant difficulties. The reason is the control of the opposition Democratic party of the lower house of Congress.

The signing of a new document-not much has changed the current situation. So American tariffs on steel and aluminium products not cancelled. Because Canada and Mexico don’t cancel their reciprocal restrictions. Refers to restrictions on American goods. They were introduced as a response to American tariffs. But the tariff negotiations still continue to be carried out. This was announced by U.S. trade representative Robert Lighthizer. The document must be honest with Canada and Mexico. However, it must preserve the benefits for the metallurgical industry of the United States. So says Leithauser.

American entrepreneurs want the problem was solved as soon as possible. After the introduction of the tariffs, steel prices have become extremely high. Not all of the local metallurgical companies that. Also because of this hurt American farmers. They bear substantial losses. The cause is the response of Canada and Mexico. It is in these countries they mainly supply their products. Because they are also interested in the speedy solution of the problem of tariffs.

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