Summary of the US/Mexico/Canada Trade Agreement

Summary of the US/Mexico/Canada Trade Agreement

It is essentially NAFTA updated.


  • Cars: Automobiles must have 75 percent of their components manufactured in Mexico, the US, or Canada to qualify for zero tariffs. This is an increase from 62.5 percent under NAFTA.

  • Wages in the car industry: 40 to 45 percent of automobile parts have to be made by workers who earn at least $16 an hour by 2023.

  • US farmers get more access to Canada’s dairy market.

  • Intellectual property: The deal extends copyrights from 50 to 70 years after the death of the author. It extends the period that a pharmaceutical drug can be protected from generic competition.

  • Internet: It prohibits tariffs on things like music and e-books, and adds protections for internet companies.

  • Section 232 national security tariffs on steel and aluminum: Canada and Mexico didn’t get protections from these tariffs.

The trade agreement has to be ratified by all three governments.


Prepared by: Lucien Wulsin

Dated: 10/3/18

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