Trump, López Obrador hold joint conference

Despite the coronavirus, Mexican President Andrés Manuel López Obrador flew coach to Washington, D.C., to meet with President Donald Trump for the first time. The two leaders on Wednesday celebrated the United States–Mexico-Canada Agreement that took effect on July 1.

What does the new treaty do? It replaces the North American Free Trade Agreement, which Trump called “perhaps the worst trade deal ever made.” The new treaty opens up the Canadian dairy market to U.S. farmers and strengthens intellectual property copyright law. It also requires that 75 percent of the parts of cars to be manufactured in the United States, Mexico, or Canada to avoid tariffs.

Dig deeper: Read Harvest Prude’s report from 2018 about a snag in the USMCA.