USMCA trade deal goes into effect

USMCA trade deal goes into effect
  • The US-Mexico-Canada Agreement includes tighter North American content rules for autos, new intellectual property protections, prohibitions against currency manipulation and new laws for digital commerce.
  • American companies can also launch disputes with Canada and Mexico over access to dairy, energy and the biotech market.
  • It comes as all three countries are mired in a deep recession, cutting their April goods trade flows – normally about $1.2T annually – to the lowest monthly level in a decade.
  • USMCA will replace the North American Free Trade Agreement, or NAFTA, which took effect in 1994 and has been lambasted by President Trump as the “worst trade deal ever made.”
  • ETFs: EWW, EWC, FXC, MXF, MEXX, MXE, BBCA, HEWW, FCAN, FLMX, HEWC, ZCAN, FLCA

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