The United States–Mexico–Canada Agreement (USMCA) was signed by the three member nations on November 30.

The legal revision of the USMCA, the modernized trilateral version of the North American Free Trade Agreement (NAFTA), was concluded last week. The deal was signed on the sidelines of the leaders' summit, the Group of Twenty (G-20 Summit) in Argentina.

On October 25, a surtax of 25% will be imposed on the imports of steel products if the imported volume exceeds the quota limits. The details regarding the quantity of such goods that may be imported under tariff rate quotas (TRQ) can be accessed from the notice issued to importers. The quota rates will be applicable for a period of 50 consecutive days.

The Canadian government announced these provisional safeguard measures on certain steel products on October 11. The notification issued by the Government of Canada argue that the influx of steel imports from the United States and other countries into Canada is a serious threat to its domestic market. According to the Canadian Department of Finance, the countermeasures were erected in response to the U.S. tariffs on Canadian steel and aluminium that adversely affects domestic steel producers and workers.