As of the time of writing, Canada has indeed signed the new North American Free Trade Agreement (NAFTA) with the United States and Mexico. While negotiations have been ongoing since August 2017, the new deal – officially called the United States-Mexico-Canada Agreement (USMCA) – was only signed on November 30, 2018.
The signing of the USMCA comes after months of tense negotiations between the three North American countries. Many contentious issues were at stake, including the dispute resolution mechanism, the auto industry, and Canada`s protectionist supply management system for dairy products.
Under the new agreement, automakers in Mexico and Canada will be required to produce more of their vehicles in North America in order to avoid tariffs. The USMCA will also expand access to the Canadian dairy market for American farmers and eliminate some of the country-of-origin labeling requirements for meat.
Canada`s Prime Minister, Justin Trudeau, has praised the new agreement, saying that it will create jobs and improve the lives of ordinary Canadians. However, some critics have argued that the USMCA represents a step backwards from NAFTA and will make it harder for Canada to compete with the United States on a level playing field.
Despite these criticisms, the signing of the USMCA marks the end of a long and often tense negotiation process between the three North American countries. While there are still many details to be worked out, the new agreement is expected to bring more certainty and stability to North American trade relations in the coming years.