Tmec Trade Agreement

On April 24, 2020, U.S. Trade Representative Robert Lighthizer formally announced to Congress that the new trade agreement is expected to come into effect on July 1, 2020, and he also informed Canada and Mexico. [86] [87] The United States, Mexico and Canada have reached an agreement to modernize NAFTA, which is 25 years old, into a high-level agreement of the 21st century. The new agreement between the United States and Mexico-Canada (USMCA) will support mutually beneficial trade, which will lead to freer markets, fairer trade and robust economic growth in North America. On May 30, U.S. Trade Representative Robert E. Lighthizer presented Congress with a draft declaration on the administrative steps needed to implement the U.S.-Mexico Agreement (USMCA and the new NAFTA), in accordance with the 2015 Presidential Trade Promotion (TPA) Administrative Action Statement. The project will allow congress to be presented to Congress, after 30 days, on June 29, a law to implement the USMCA. In a letter [73] to Nancy Pelosi, House of Representatives spokeswoman Kevin McCarthy, the minority leader of the House of Representatives, the Republican, told Lighthizer that the USMCA was the gold standard in U.S. trade policy, modernizing the competitive trade in digital, intellectual property and services in the United States and creating a level playing field for U.S. businesses. , workers and farmers, an agreement that represents a fundamental shift in trade relations between Mexico and Mexico.

To support North American jobs, the agreement provides for new trade rules to get higher wages, making 40 to 45 percent of the automotive content of workers earning at least $16 an hour. New entrants to the Mexican and Canadian markets will also benefit from a lower cost to reach consumers. Express delivery drivers in the United States, which carry many poor quality shipments for these distributors, are also benefiting from reduced costs and increased efficiency. Manufacturing in Mexico accounts for 17% of GDP. [91] However, Mexican President Andrés Manuel Lupepez Obrador believes that this trade agreement will be a clear positive for the Mexican economy through increased foreign investment, job creation and the expansion of trade. [92] On December 19, 2019, the U.S. House of Representatives passed the USMCA with the support of all parties by 385 votes (Democracy 193, Republican 192) to 41 (Democracy 38, Republican 2, 1). [79] On January 16, 2020, the U.S. Senate passed the trade agreement by 89 votes (Democrats 38, Republicans 51) to 10 (Democracy 8, Republican 1, Independent 1)[80] and the bill was forwarded to the White House for the signature of Donald Trump. [81] On January 29, 2020, Trump signed the agreement (Public Law No: 116-113).

[82] NAFTA has been formally amended,[83] but not the 1989 Canada-U.S. Free Trade Agreement, which is only “suspended.” [84] [85] Get answers to the most frequently asked questions about the agreement. Download On December 10, 2019, the three countries signed a revised USMCA agreement. On January 29, 2020, Deputy Prime Minister and Minister of Intergovernmental Affairs Chrystia Freeland introduced the USMCA C-4 Transposition Act in the House of Commons[93] and passed the first reading without a registered vote. On February 6, the bill passed second reading in the House of Commons by 275 votes to 28, with the Bloc Québécois voting against and all other parties voting in its favour, and it was referred to the Standing Committee on International Trade. [99] [100] [101] On 27 February 2020, the committee voted to send the bill to Parliament for third reading, without amendments.