New Zealand: What USMCA, the greatest agreement ever signed, means for NZ exporters

On 30 September, the US, Mexico and Canada announced conclusion of the United States-Mexico-Canada Agreement (USMCA), a ‘new’ agreement to replace the North America Free Trade Agreement (NAFTA). Signing is expected to take place in November, and then it will have to obtain Congressional approval.

Reviews of the new agreement are mixed. President Trump has hailed it as “the single greatest agreement ever signed”. Others are, not surprisingly, more circumspect. Governor John Kaisch (R-OH), for instance, described the deal as “really frankly a marginal improvement over NAFTA, it’s no big change”.

So what is different? And will the changes have any implications for New Zealand?