The Agreement between the United States of America, the United Mexican States, and Canada is a signed but not ratified free trade agreement between Canada, Mexico, and the United States. It is referred to differently by each signatory: in the United States, it is called the United States–Mexico–Canada Agreement (USMCA); in Canada, it is called the Canada–United States–Mexico Agreement (CUSMA) in English and the Accord Canada–États-Unis–Mexique (ACEUM) in French; and in Mexico, it is called the Tratado entre México, Estados Unidos y Canadá (T-MEC). The agreement is also referred to as “NAFTA 2.0”, or New NAFTA in order to distinguish it from its predecessor, the North American Free Trade Agreement (NAFTA). (wikipedia)
Signed November 30, 2018
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Commentary By
Senior Research Fellow in Anglo-American Relations
Vice President, Kathryn and Shelby Cullom Davis Institute
Senior Research Fellow in International Regulatory Affairs
KEY TAKEAWAYS
U.S. accession would provide no benefits not already available to the U.S., while creating unnecessary burdens and risks.
The U.S. does not need to join the convention in order to access oil and gas resources on its extended continental shelf, in the Arctic, or in the Gulf of Mexico.
Despite subsequent changes in 1994 that led the Clinton administration to support U.S. accession, the Trump administration should oppose accession to this treaty.