ExportImport

USMCA will be Signed in Buenos Aires

G-20 Summit on November 30

According to Politico.com, Mexico’s Secretary of Economy, Ildefonso Guajardo, said, “The U.S., Mexico and Canada will sign the revamped NAFTA deal on Nov. 30 on the sidelines of the G-20 leaders summit in Buenos Aires, even if U.S. tariffs on steel and aluminum remain in place — but he expressed hope there would be some resolution before then.”

On June 1, 2017, tariffs were imposed on steel and aluminum imports from United States two other USMCA trading partners, Mexico and Canada via Section 232.  Talks had indicated that The U.S. would lift those tariffs as soon as an agreement between the three countries was made, but that didn’t happen.  In return, Mexico and Canada both imposed retaliatory tariffs on the U.S.

Mexico has stated it won’t sign an agreement unless steel and aluminum tariffs are lifted and Canada’s Prime Minister is still working on increasing quotas, but both countries have mentioned regardless of what happens, they will still be signing the agreement… maybe with a grudge and it most definitely won’t be a “large-scale event.”

USMCA