Trump won an important victory - concluded a new trade agreement with Canada and Mexico

At the last moment, one day before the expiration of the NAFTA agreement, the representatives of the USA and Canada managed to reach an agreement. A new trade agreement between the US, Mexico, and Canada was formed - the USMCA agreement (by the names of the participating countries).

Trump managed to get from Canada concessions on access to the Canadian dairy market for US farmers, as well as, for car manufacturers and on the protection of intellectual property.

This is a very important success for Trump - before the by-election to Congress in November, against the backdrop of the extremely tough US-China trade war unleashed by Trump. Just a week ago, the United States introduced duties for 200 billion dollars of goods from China in response to 60 billion dollars of goods from the United States.

Trump is critical that Republicans win in November and retain a majority in the lower house of Congress. Otherwise, Trump will become a "lame duck" two years before the US presidential election and the mood of voters is determined by the economy.

The US-Canada-Mexico market is huge, amounting to $ 1 trillion of Import-exports per year.

Analysis are provided by InstaForex