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The new north American trade deal contains a lesson for Brexit Britain

You can do a deal with China or the US but not both

By George Magnus  

Trump at a USMCA press conference. Photo: Sipa USA/SIPA USA/PA Images

In spite of what had been a deterioration in relations between the US and both Canada and Mexico, all three countries signed a new agreement last week. Subject to ratification, it will replace the North American Free Trade Agreement (NAFTA), against which President Trump campaigned vociferously. Known by an unwieldy acronym, USMCA (US, Mexico, Canada Agreement) is not all that much more than a rebranding of NAFTA, and yet there is more to it than meets the eye, not least…

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