NAFTA

Mexico’s Senate has voted overwhelmingly in favour of ratifying the USMCA

Partisan rancour will deepen at the expense of much major legislation being passed down to December

The president has linked developing infrastructure with replacing NAFTA with the USMCA

Having been a source of uncertainty throughout the NAFTA talks, Mexico’s new government seems on board with the outcome

Trudeau has avoided major Canadian economic dislocation, but could lose votes due to some concessions Canada made

Fears NAFTA would collapse, leaving a Mexico-US deal only, have receded after Canada-US talks completed overnight

Ottawa and the Liberals will likely make concessions to save NAFTA, but face political costs

Washington looks to have succeeded in driving a wedge between its NAFTA negotiating partners