America's free trade pact with Mexico and Canada may be alive, but the same can't be said for the NAFTA moniker. Once the new deal was arrived at Sunday night its new name was announced: the United States-Mexico-Canada Agreement, or USMCA. President Trump weighed in on the name during a Monday press conference, saying, "It has a good ring to it." It's also "a great deal," he said per USA Today, one that should "pass easily, really easily ... in theory there should be no trouble." Congress needs to approve the agreement, and it needs to be ratified in Mexico and Canada as well. As for how one should say the name, Trump didn't read it as a word a la NAFTA but spelled the letters out: U-S-M-C-A.
CNBC reports that while much of the deal echoes that of NAFTA, there are pivots in terms of how the dairy and auto industries are handled: US dairy producers' access to Canadian markets will increase, while Mexico and Canada scored a win in terms of an exemption on passenger vehicles, pickups, and auto parts from potential tariffs. CNBC has much more, including details on changes that will could up the price of cars made in Mexico, which could push more of these jobs north of the border. (Read more USMCA stories.)