U.S., Canada and Mexico formally sign USMCA

The leaders of the three countries signed the agreement on the sidelines of the G20 summit in Buenos Aires, teeing up the pact for respective domestic ratification processes.

U.S., Canada and Mexico formally sign USMCA

The leaders of the three countries signed the agreement on the sidelines of the G20 summit in Buenos Aires, teeing up the pact for respective domestic ratification processes.

U.S., Canada and Mexico formally sign USMCA

The leaders of the three countries signed the agreement on the sidelines of the G20 summit in Buenos Aires, teeing up the pact for respective domestic ratification processes.

 
President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto on Friday signed the U.S.-Mexico-Canada Agreement (USMCA), a crucial step toward the NAFTA update’s entry into force.
    “I must say, [President] Peña Nieto and Prime Minister Trudeau, we’ve worked hard on this agreement. It’s been long and hard. We’ve taken a lot of barbs and a little abuse. And we got there. It’s great for all of our countries,” Trump said in remarks during the signing ceremony on the sidelines of the G20 summit in Buenos Aires. “Thank you for your close partnership throughout this process. This new agreement will ensure a future of prosperity and innovation for Mexico, Canada, and the United States.”
    The next steps are for the U.S. International Trade Commission to finish its report on the likely economic effects of the USMCA and submit it to Congress, which is expected in March. After receiving the report, Congress then can consider legislation to implement the agreement.

Ocean carriers want to keep transpacific prices as high as possible during BCO contract negotiations. This has been successful, with an increase in blank sailings enabling an April 1 GRI. While space is currently reasonably tight and the new rates are still holding, another GRI is unlikely to stick without more blank sailings.

Spot container rates from Shanghai to Rotterdam clocked in at $1,312 per FEU as of April 18, down from $1,431 per FEU four weeks prior, and down from $1,656 per FEU eight weeks prior, but still up 14 percent year-over-year, according to data from Drewry's WCI.

Most Popular
Latest News
Social Media

Loading...

Trump-Xi truce good but details elusive, analysts say

Trump-Xi truce good but details elusive, analysts say

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Copy & Paste the following code to embed this story on your website:

Preview

U.S., Canada and Mexico formally sign USMCA

The leaders of the three countries signed the agreement on the sidelines of the G20 summit in Buenos Aires, teeing up the pact for respective domestic ratification processes.

Nov 30, 2018 on Dec 27, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Copy & Paste the following code to embed this story on your website:

Preview

U.S., Canada and Mexico formally sign USMCA

The leaders of the three countries signed the agreement on the sidelines of the G20 summit in Buenos Aires, teeing up the pact for respective domestic ratification processes.

Nov 30, 2018 on Dec 27, 2018AmericanShipper.com