The Office of the United States Trade Representative announced today that the US has come to a preliminary agreement with Mexico to modernize the current NAFTA agreement to become a more favorable agreement for North America. Progress is outlined in several areas such as the implementation of solid Intellectual Property enforcement and protective measures, a raise in the Mexican de minimis level to $100 from $50 and fair labor practices that coincide with the standards set by the International Labor Organization.
Canadian Minister of Foreign Affairs Chrystia Freeland heads to Washington, DC this week to continue NAFTA negotiations. We will continue to monitor this situation and provide updates as it progresses.
The full text of the article can be found at https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/august/modernizing-nafta-be-21st-century.