The Canada-U.S.-Mexico trade agreement (CUSMA) launched Wednesday, replacing the 26-year-old North American Free Trade Agreement (NAFTA), as the global economy and international trade reel from the fallout of the coronavirus pandemic.
The flow of goods among the three CUSMA members — which totaled $1.2 trillion last year — in April dropped to the lowest level in more than a decade.
Some industries, including automakers, had been arguing for a delayed implementation of the new trade pact because of the difficulties they are facing from the coronavirus pandemic.
Click here to see some of the key changes the new regional pact will usher in.
Source: Global News