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  HOME | Business & Economy (Click here for more)

US, Canada, Mexico to Sign Trade Pact during Buenos Aires G20 Summit

MEXICO CITY – The United States, Mexico and Canada will sign a new trilateral trade agreement on Nov. 30 during the G20 Summit in Buenos Aires, the Mexican economy minister said on Thursday.

Ildefonso Guajardo told reporters that the deal will be signed by representatives of the three countries in the Argentine capital on the sidelines of the summit of 20 major economies to be held between Nov. 30-Dec. 1.

Guajardo said the presence of US President Donald Trump, his Mexican counterpart Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau at the occasion was not yet determined.

He pointed out that the Senates of Mexico and Canada and the lower house of the US Congress have to formally approve the pact, known as United States-Mexico-Canada Agreement, before it can be ratified.

After long and heated negotiations, Mexico and the US agreed in late August on a new bilateral trade agreement, leaving the door open for Canada’s entry.

On Sept. 30, Canada announced its incorporation in the USMCA, paving the way for a trilateral deal to substitute the North American Free Trade Agreement, in effect since 1994.

 

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