The US and Canada reached a trade agreement before the deadline and maintained the structure of the US-Mexico-Canada trilateral agreement, which will be handed over to the leaders of the three countries before the end of November.

The US Trade Representative and Canadian Foreign Minister issued a joint press release stating that the US-Mexico-Canada Agreement (USMCA) will replace the 24-year-old NAFTA. The US and Mexico have reached an agreement in August, bringing greater pressure on Canada to reach the agreement. The US and Mexico have postponed the full text of the agreement, hoping that the US and Canadian negotiators will also resolve the differences.

The market has expected Canada to join the trilateral agreement. The Canadian dollar rose by 0.6% against the the US dollar, and the Mexican peso appreciated by 0.2%.