On September 30, 2018, the US, Canada and Mexico reached an agreement to update the the North American Free Trade Agreement (NAFTA). The new deal was named the United States-Mexico-Canada Agreement, or USMCA. The new USMCA includes provisions on digital trade, state-owned enterprises, medium and small enterprises, macroeconomic policies and exchange rates, all of which indicate that the US is seeking to again become the center of the North American value chain and to bring key manufacturing sectors back to the US.

On November 20, 2018, the SIAS jointly held a seminar on the USMCA and Shanghai’s response, together with the Institute of Public Policy and Governance (IPPG) of the Shanghai University of Finance and Economics (SUFE). The meeting was co-chaired by SIAS Executive Director Hu Hua and IPPG Deputy Director Li Chaomin. Academics and experts from the Chinese Academy of International Trade and Economic Cooperation (CAITEC), Taihe Institute, Fudan Universtiy, the SUFE, Shanghai International Studies University, Shanghai University of International Business and Economics, the Shanghai Academy of Social Sciences, Xinhua News Agency Shanghai Bureau and the SIAS research staff attended the meeting.

Those whom participated shared their ideas on a wide range of issues, such as the impact that the USMCA will bring to global multilateral trade rules and governance, how to use the China (Shanghai) Pilot Free Trade Zone to deal with the new trends of international economic and trade rules, as well as other matters that Shanghai enterprises should consider when investing overseas.