NAFTA partners expected to sign USMCA on Friday

The U.S., Mexico and Canada likely will formally ink the updated pact during the G20 summit in Buenos Aires.

NAFTA partners expected to sign USMCA on Friday

The U.S., Mexico and Canada likely will formally ink the updated pact during the G20 summit in Buenos Aires.

NAFTA partners expected to sign USMCA on Friday

The U.S., Mexico and Canada likely will formally ink the updated pact during the G20 summit in Buenos Aires.

 
The U.S., Mexico and Canada are expected to formally sign the U.S.-Mexico-Canada Agreement (USMCA) during the G20 summit in Buenos Aires on Friday, according to a readout of a phone call between outgoing Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau.
    During the call, Pena said USMCA modernizes the North American strategic commercial alliance, strengthens the competitiveness of the region and offers certainty to investments, according to the readout, published by the Mexican government last Friday.
    Both Pena and Trudeau touted the benefits that the USMCA is expected to provide member countries.
    Canadian officials recently had raised some concern that existing U.S. steel and aluminum tariffs conflict with the central goals of USMCA, throwing the signing of the pact into question.
    But Canadian Finance Minister Bill Morneau said during a speech on Thursday that negotiations to resolve the tariff issue are proceeding on a separate track from trilateral work toward USMCAs signing.

However, if shipping alliances are outlawed altogether, then freight rates will skyrocket because alliances are the only way that carriers can operate ultra-large container ships (ULCVs) effectively.

The FBX, a global container freight index measuring spot rates on major global trades, had an overall reading of $1,342 per FEU as of June 14, down 1.5% from a week prior, but up 3.4% from a year prior.

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EU ambassador: Quick outcome sought in trade talks

EU ambassador: Quick outcome sought in trade talks

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NAFTA partners expected to sign USMCA on Friday

The U.S., Mexico and Canada likely will formally ink the updated pact during the G20 summit in Buenos Aires.

Nov 26, 2018 on Dec 27, 2018AmericanShipper.com

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NAFTA partners expected to sign USMCA on Friday

The U.S., Mexico and Canada likely will formally ink the updated pact during the G20 summit in Buenos Aires.

Nov 26, 2018 on Dec 27, 2018AmericanShipper.com