Steve June 30, 2020
new-nafta-trade-deal-deepens-oil-and-gas-dependency-during-climate-crisis
President Donald Trump delivers remarks with Canadian President Justin Trudeau and then-Mexican President Enrique Peña Nieto at the signing the USMCA trade agreement on November 30, 2018.

Read time: 7 mins

The coronavirus pandemic and record-low oil prices dealt a blow to the fossil fuel industry this year. But the new trade deal between the United States, Mexico, and Canada, known as the USMCA, will provide a boost as it replaces the North American Free Trade Agreement (NAFTA). The deal goes into effect July 1.

Reading between the lines of the 2,000-plus page deal, environmentalists say it is bad news for North America’s climate future. Far from addressing the crisis, the deal provides loopholes for oil, gas, and mining companies to operate across borders, and paves the way for U.S. companies to export even more fracked natural gas across the border into Mexico.

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