Canadian PM Trudeau: We are one step closer to ratifying the new NAFTA (USMCA)

Dhwani Mehta FXStreet

Canadian Prime Minister (PM) Justin Trudeau took out to Twitter on Thursday, making some comments on the new US-Mexico-Canada trade agreement (USMCA).

Key quotes

We are one step closer to ratifying the new NAFTA.

In Quebec, this agreement preserves more than $50 billion in exports to the United States, protects the cultural exemption, and is a net gain for our aluminum industry.

It's good news for Quebecers and for all Canadians.

USD/CAD tests five-week highs

The above upbeat remarks on trade failed to move the Canadian dollar, as it remains in five-week lows against the greenback on Thursday. At the press time, USD/CAD trades 0.08% higher at 1.3340, having tested the five-day high of 1.3348 reached on Wednesday.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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