Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 11/16/18

After more than a year of talks, the US, Canada, and Mexico struck a new trade deal to replace NAFTA, known as the United States-Mexico-Canada Agreement, or USMCA. The agreement is still waiting for approval in Congress. After the Democrats took control of the House in the midterms last week, that approval is now in question. Regarded as “the most important trade deal we’ve ever made” by President Trump, the USMCA is the replacement of the old NAFTA deal, which he described as “the worst trade deal maybe ever signed anywhere” (Brinkley, Oct 8, 2018). Since NAFTA was signed more than 25 years ago, there are some updates to the agreement that are arguably needed. The way countries trade with each other has transformed significantly since then. New components of trade, including digital commerce, should be addressed in the regional trade deals.

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