(Harvest) The revised NAFTA deal relieves uncertainty for Canada and avoids a possible Mexican barrier to ratification. But what does it really mean for the three countries involved—or for trade tension with China?
The US and Canada over the weekend reached agreement on a NAFTA rewrite that will in future be called the “US-Mexico-Canada Agreement,” a name in desperate need of an acronym. The timing of the agreement was important, as it means Mexico’s outgoing president, Enrique Peña Nieto, can sign it before Andrés Manuel López Obrador—a bit of a wild card on trade policy—takes office later this year (the US and Mexico struck an agreement a few weeks ago).
