The U.S. and Canada agreed to a trade deal with Mexico, setting the stage for their leaders to sign the accord by late November in a region that trades more than $1 trillion annually Industry Week report.
The three countries reached an agreement to replace the 24-year-old North American Free Trade Agreement, according to a joint statement from U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland on Sunday. The new deal will be called the U.S.-Mexico-Canada Agreement, or USMCA.
The accord involves improved access to Canada’s dairy market for U.S. farmers, stronger intellectual property provisions, and tighter rules of origin for auto production, according to two senior Trump administration officials who spoke to reporters on condition of anonymity.
Canadian auto exports up to a certain threshold will not be impacted by any U.S. tariffs on foreign cars, according to three people familiar with the matter. The agreement offers Canada some cover from the Trump administration’s threat to impose duties on car imports for national security reasons. . . . read on . . . >
For the first time in history, more than four billion passengers took to the air last year – equivalent to more than half the world’s population flying somewhere – and the International Air Transport Association (IATA) has just revealed the big winners writes Peter Needham for Global Travel Media.
A major Asia-Pacific trade deal seems to have new momentum, after years of discussions dragged on. What is driving the action, and will New Zealand get the deal it’s after? Sam Sachdeva reports for Newsroom.
Geneva – The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 2.1% in July 2018, compared to the same period the year before. This was the slowest pace of growth seen since May 2016 and well below the five-year average growth rate of 5.1%.