Want to know more about importance of this date? Here's the explainer thread.
The issue, always purposefully hidden by media and economic pundits, is that NAFTA was never a North American “Trade Bloc”.
Most people mistakenly equate NAFTA with other multi-nation trade partnerships like the EU (European Union). The NAFTA partnership is nothing like the EU trade bloc; it is not even close.
The EU trade agreement is an agreement between themselves *and* their commerce toward all other external nations. Thus it is a "bloc".
NAFTA was only an agreement between the U.S., Canada and Mexico and did not extend to external nations.
This was the basic issue underlining the NAFTA ‘fatal flaw’.
NAFTA was never a 'trade bloc' agreement.
Mexico & Canada assembled foreign products shipped to them as parts, then sent the finished products into the U.S. market.
Both nations lose hundreds of billions in economic activity.
Hundreds of billions in value and tens of thousands of jobs.
The USMCA is official in effect starting today. For corporations that want access to the U.S. market, the best location for future investment is in North America.
Today ends the era of offshoring U.S. jobs.