The US, Canada and Mexico are expected to sign the new United States-Mexico-Canada Agreement (USMCA), with which President Trump plans to replace NAFTA, on 30 November.

Mexico’s Minister for Economy, Ildefonso Guajardo, told reporters at an event in Mexico City last week that cabinet ministers from each of the three countries will sign the deal at the end of the month, according to Reuters.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The deal is expected to be signed in Buenos Aires, Argentina, Guajardo said. Argentina is hosting the G20 international forum for governments and central bank governors. It has not yet been confirmed whether the Presidents and Prime Minister will participate in the signing.

Canada, the United States, and Mexico successfully concluded more than a year’s worth of talks in September, finally agreeing on a new agreement to revamp the 24-year-old North America Free Trade Agreement (NAFTA).

Mexico had previously given the green light to a preliminary agreement with the US that could replace NAFTA, without Canada. This included stronger textile provisions than the original trade pact, designed to incentivise greater US and Mexican production in textiles and apparel trade.

See Also:

But with Canada and Mexico being the United States’ two biggest export markets, the US apparel industry risked being hurt if one of the partners were left out of a new deal.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Click here to see what the new United States-Mexico-Canada Agreement (USMCA) – also dubbed NAFTA 2.0 – means for apparel sourcing and the new apparel-specific rules of origin.