Trump has not been happy with NAFTA since taking office, at times calling it the "worst trade deal ever signed by any country". After working for more than a year to finalize a deal, Trump called the new agreement "truly historic". The US, Canada and Mexico have reached a deal to update and rename NAFTA. The United States-Mexico-Canada Agreement (USMCA), a 16-year trade agreement, would not go into effect right away as key provisions wouldn't start until 2020 because the approval process will take quite some time.
Among some of the key components of the proposed agreement:
It is important to remember that although the framework for a new trade deal is in place, the USMCA must still be ratified.