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New NAFTA Signed by North American Leaders

Last week in Buenos Aires, Argentina, U.S. President Donald Trump, Canadian Prime Minister Justin Trudeau, and outgoing Mexican President Enrique Peña Nieto signed the new NAFTA, now called the U.S.-Mexico-Canada Agreement (USMCA).

The ceremony marks the official conclusion of negotiations, although the negotiators will continue to iron out minor differences identified by stakeholders in each country. We do not expect any changes to the benefits of the agreement to the recycling industry, as outlined in our earlier analysis.

The agreement will now proceed through each country’s parliamentary process. Canada’s parliament and Mexico’s congress are expected to pass it with few hurdles. The U.S. Congress, however, will likely engage in a vigorous debate over certain issues that affect constituencies differently (such as labor and agriculture provisions) as well as be influenced by general party politics. Only once all three legislatures ratify the agreement will it enter into force a short time thereafter.

Please contact Adina Renee Adler if you have any questions.
 

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