Canada agreed to sign a trade deal with the United States and Mexico, revamping the North American Free Trade Agreement (NAFTA) after almost a year of negotiations. The new deal has been named the United States-Mexico-Canada Agreement (USMCA).
The trilateral pact is expected to be signed by the three North American countries, after which it would be submitted to Congress. Under the agreement, Canada has agreed to export a quota of 2.6 million vehicles to the United States in the wake of 25% global autos tariffs imposed by the US on national security grounds.
Static/Current Takeaways Important for Indian Bank PO Exam 2018-
- Canada Capital: Ottawa, Currency: Canadian dollar, PM: Justin Trudeau.