New USMCA Set to Replace NAFTA on January 1st 2020

Top officials from the United States, Canada and Mexico have signed a new trilateral trade agreement. The U.S., Mexico and Canada Agreement (USMCA), will take effect on January 1st 2020, and replace the nearly 25-year-old NAFTA trade agreement. The USMCA aims to improve enforcement of worker rights and hold down prices for biologic drugs by eliminating a patent provision. The news release indicated that full details will be revealed soon.

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