At the end of August, United States and Mexico had concluded a free trade agreement (cf.NAFTA: bilateral agreement between the United States and Mexico) and Canada had to join the talks hastily in order not to be excluded.

A few hours before the deadline set for October 1, 2018 for the close of negotiations, on Canada finally agreed to join this new agreement named United States Mexico Canada Agreement (USMCA).

Some concessions have been made on both sides and others:

• Opening the agriculture sector for Canada
• Restriction on the automotive sector: the share of parts originating from UMSCA must reach 75% (compared with 62.5% currently) in order to qualify for exemption from customs duties, and 40% must be produced by workers earning more than USD 16/h.
• Possibility of review every 6 years.

The final text should be formally ratified by the three presidents within 2 months.

Source(s): world.fr