America first? Mexico, Canada push back on name of new trade deal
QPAGOS CEO Gaston Pereira on the Trump administration's USMCA deal with Canada and Mexico and the migrant caravan.
After a protracted and tenuous negotiation period, leaders from the U.S., Canada and Mexico officially agreed on a revised trade pact Friday – but the one thing they seem unable to settle on is what the agreement should be called.
The deal – which replaces the North American Free Trade Agreement (NAFTA) – resulted from more than a year of renegotiation discussions. The Trump administration dubbed the agreement the U.S.-Mexico-Canada Agreement, or USMCA. However, it turns out the other parties involved have ideas of their own.
As of Friday, Canada’s official website had a page dedicated to the agreement, which it called the Canada-United States-Mexico Agreement, or CUSMA.
In Mexico, media reports refer to the deal as “T-MEC,” though MUSCA – Mexico-U.S.-Canada Agreement, is also being considered – according to a report from Canada's National Post.
The deal, hailed by President Trump as a “groundbreaking achievement,” includes important reforms in the automotive and agriculture sectors. It also strengthens intellectual property protections.
Legislatures from Mexico and Canada, as well as Congress, must approve the deal before it is finalized.