Five key takeaways from Trump's US-Mexico trade deal
Updated : August 28, 2018 07:11 AM IST
US Trade Representative Robert Lighthizer said the White House was ready to notify the US Congress by Friday of President Donald Trump's intent to sign the bilateral document, but that it was open to Canada joining the pact.
The 24-year-old NAFTA is a trilateral deal between the United States, Canada and Mexico that underpins $1.2 trillion in North American Trade.
The new deal requires 75 percent of the value of a vehicle to be produced in the United States or Mexico, up from the NAFTA threshold of 62.5 percent.
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