A preliminary version of a new US-Mexico trade deal is complete.

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Here are a few things to know about this new US-Mexico trade deal.

• The new US-Mexico trade deal will be replacing NAFTA, which is almost 25 years old.
• This new deal is going by the name “The United States-Mexico Trade Agreement”.
• President Donald Trump says the name is changing from NAFTA because there are negative connotations with that deal.
• Unlike NAFTA, this new US-Mexico trade deal doesn’t include Canada.
• However, President Trump says that Canada is welcome to engage the US in fair negotiations.
• Canada says that it is waiting for the “bilateral issues” between the US and Mexico to resolve before it joins in on talks.
• President Trump has been pushing to create separate deals between the US and Mexico, and the US and Canada.
• While this may be President Trump’s goal, both Canada and Mexico are interested in keeping an agreement similar to NAFTA between all three countries.
• This new deal between the US and Mexico will last for 16 years.
• There will also be a review of the deal every six years.
• The new agreement keeps the current steel and aluminum tariffs.
• It also requires that a certain amount of steel and aluminum come from North America.
• One thing to note is that the agreement doesn’t place a limit on the import of light vehicles from Mexico.
• The deal needs approval from Congress before it can go into place.

You can follow these links to learn more about the new US-Mexico trade deal.

As of this writing, William White did not hold a position in any of the aforementioned securities.