Us-Mexico-Canada Agreement (Usmca)

In 1994, the United States, Mexico and Canada, with the North American Free Trade Agreement (NAFTA), created the world`s largest free trade region, which generated economic growth and helped improve the living standards of the people of the three member countries. By strengthening trade and investment rules, this agreement has proven to be a solid foundation for building Canada`s prosperity and has provided a valuable example of the benefits of trade liberalization for the rest of the world. The new Canada-U.S.-Mexico agreement will strengthen Canada`s strong economic ties with the United States and Mexico. NAFTA has three primary dispute resolution mechanisms. Chapter 20 is the settlement mechanism for countries. It is often considered the least controversial of the three mechanisms, and has been maintained in its original form from NAFTA to the USMCA. In such cases, complaints filed by USMCA Member States against the duration of the contract would be violated. [48] In Chapter 19, the justifications for anti-dumping or countervailing duties are managed. Without Chapter 19, the avenue of recourse for the management of these policies would be through the national legal system. Chapter 19 provides that an USMCA body hears the case and acts as an international commercial tribunal to arbitrate the dispute. [48] The Trump administration has attempted to remove Chapter 19 of the new USMCA text, which until now existed in the agreement.

On June 1, 2020, the USTR Office issued the uniform rules[30] which are the last hurdle before the implementation of the agreement on July 1, 2020. The agreement is designated differently by each signatory – in the United States, it is called the U.S.-Mexico-Canada Agreement (USMCA); [1] [23] in Canada, it is officially known as the Canada-U.S.-Mexico Agreement (CUSMA) in English[24] and the Canada-U.S.-Mexico Agreement (ACEUM) in French; [25] and in Mexico, tratado is called tratado between México, Estados Unidos y Canadé (T-MEC). [26] [27] The agreement is sometimes referred to as “New NAFTA”[28][29] with respect to the previous trilateral agreement for the successor, the North American Free Trade Agreement (NAFTA). The agreed text of the agreement was signed by the heads of state and government of the three countries on November 30, 2018, as an incidental event at the 2018 G20 summit in Buenos Aires, Argentina. [34] The English, Spanish and French versions will also be binding and the agreement will take effect after ratification by the three states through the adoption of enabling laws. [35] The U.S.-Mexico-Mexico-Canada Agreement (USMCA) is a trade agreement between these parties. The USMCA replaced the North American Free Trade Agreement (NAFTA). On December 10, 2019, the three countries reached 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. The provisions of the Convention cover a wide range of agricultural products, homelessness, industrial products, working conditions and digital commerce.