Canada, US and Mexico sign new USMCA trade deal

Prime Minister Justin Trudeau, U.S. President Donald Trump and outgoing Mexican President Enrique Pena Nieto signed the United States-Mexico-Canada Agreement this morning in Buenos Aires.

The deal, now formally known in Canada as CUSMA, replaces the North American Free Trade Agreement, NAFTA.

CUSMA will still need to be ratified by all three countries before it can formally take effect.

A new Mexican president takes over on Saturday, who might not honour the tentative deal struck by his predecessor.

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