For China, the United States is a primary economic rival, and the RCEP is an opportunity to gain the upper hand in its two-year American trading conflict.
Canada has run a trade deficit with China every year since 1992, including nearly-$52 billion last year.
The Trump administration is working this week to finalize regulations to bar the US government from buying goods and services from Huawei and other Chinese companies.
Prime Minister Trudeau said that he's unsure about whether or not he will attend a summit to celebrate the new North American trade treaty in Washington.
For countries evaluating a future beyond COVID-19, China’s commercial instability during the global crisis has become a point of contention among industry and trading partners.
The USMCA brings much needed updates to the three-decades' old NAFTA, in manufacturing, intellectual property, labour laws, and environmental provisions.
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