US Changes USMCA Text Canada Ready to Push Back

Canada is pushing back against U.S. attempts to change the text of their September trade pact and the issue may have to be referred to ministers to settle, a Canadian source with direct knowledge of the matter said on Thursday.


usdcad Canadian dollar graph, November 8, 2018

The United States and Canada reached a last-gasp deal on USMCA at the end of September, guaranteeing that free trade between the three nations would continue. Officials are now fine-tuning the wording on the deal intended to replace the North American Free Trade Agreement (NAFTA).

“We are having discussions around the interpretation of a variety of things,” said the Canadian source.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza