The North American Free Trade Agreement (NAFTA) will be renamed the United States-Mexico-Canada Agreement – or USMC.
The Office of the United States Trade Representative (USTR) has posted the text of the new United States-Mexico-Canada Agreement, which will replace NAFTA.  The text of the agreement is available on the USTR website.
Hightlights of the new NAFTA Agreement include:
• The new agreement is named the United States-Mexico-Canada Agreement (USMCA);
• To qualify for preferential treatment, automobiles will require 75% North American content, up from the existing 62.5% (by 2020, in all countries);
• At least 30% of the workers producing a vehicle must earn $16.00 USD per hour (by 2020); by 2023, this raises incrementally to 40% (in all countries);
• The US is introducing a quota system to protect Mexico and Canada from any future tariffs applied to vehicles and parts. Each country has a “side letter agreementâ€;
• Canadian supply management continues to exist but US dairy producers will have greater market access in Canada;
• Chapter 11 is gone; Chapter 19 (now Chapter 31) remains for dispute settlements;
• US steel tariffs remain in place;
• Chapter 7 introduces new de minimis levels for all three countries: US and Mexico, at least $100 USD; Canada, at least C$150 for customs duties and C$40 for taxes.