The US, Mexico, Canada trade agreement was reached on September 30.
The deal will be called the US-Mexico-Canada Agreement, or USMCA, in Canada and the US. But since the deal is considered a treaty and not an agreement in Mexico, the country will need a new name.
The North American Free Trade Agreement (NAFTA) was called the Tratado de Libre Comercio de América del Norte (TLCAN) in Mexico.
Incoming Mexican president Andrés Manuel López Obrado started a poll on Twitter to get feedback for the name.
The options were TEUMECA, T-MEC, or other.
Mexico’s incoming president, Andrés Manuel López Obrado, wants some help naming the new US, Mexico, Canada trade deal.
The new US-Mexico-Canada Agreement (USMCA), was reached a week ago after the US and Canada were able to overcome their differences and strike a deal. The US-Canada agreement came after the US and Mexico settled their issues in August.
While the new deal sets up an update of the two-decade old North American Free Trade Agreement (NAFTA), the new name doesn’t work for Mexico.
López Obrado said the type of deal the three countries reached constitutes a treaty rather than an agreement. Therefore, the USMCA name doesn’t work for the country. Similarly, the North American Free Trade Agreement (NAFTA) was named the Tratado de Libre Comercio de América del Norte (TLCAN) in Mexico.
López Obrado put up a Twitter poll to survey people on the new name. His options:
TEUMECA: (T)ratado (E)stados (U)nidos, (Mé)xico, (Ca)nadá
T-MEC: (T)ratado (M)éxico, (E)stados Unidos, (C)anadá.
Neither of the above
The poll is scheduled to be open for five days and as of 1:30 p.m. ET Tuesday, T-MEC was leading with 42% of the vote. TEUMECA was garnering 18%, while “neither” sat at 40%. Just under 11,000 people had voted in the poll.
The new deal, regardless of name, was reached just in time for current Mexican president Enrique Pena Nieto to sign the updated agreement before leaving office on November 30. The treaty will then need to be ratified by the Mexican legislature.
López Obrado is supportive of the new trade deal.
Christopher Woody contributed reporting to this story.
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Source:: Business Insider