Usmca Agreement Ratification

Deputy Premier Chrystia Freeland introduced Bill C-4 on January 29. For nearly two years, she led Canada`s trade negotiations for the revised NAFTA. “It is in the national interest that we complete this process, that we put an end to this process, that we have the economic and political security that ratification will bring,” she said on the same day before the House of Commons in Ottawa. “But I am far from thinking that the debate we are hearing now in this House, the discussions we are going to hear in committee, are in vain.” On June 1, 2020, USTR Robert Lighthizer`s office released the uniform rules, which are the final hurdle before the agreement is implemented on July 1, 2020. The text of the agreement is available here: ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement/uniform-regulations The United States, Mexico and Canada concluded negotiations in September 2018 for a new trade agreement to replace the North American Free Trade Agreement (NAFTA) and on January 29, U.S. President Donald Trump signed the new trade agreement. The provisions of the Convention cover a wide range of agricultural products, homelessness, industrial products, working conditions and digital commerce. Among the most important aspects of the agreement are improving U.S. dairy farmers` access to the Canadian market, guidelines for a greater proportion of automobiles produced in the three countries and not imported from other countries, and maintaining the dispute settlement system, which is similar to that contained in NAFTA.

[35] [38] The Canadian Parliament formally approved the U.S.-Mexico-Canada Agreement (USMCA) and announced it late last week. The usmCA`s ratification was made possible after the trade agreement passed through the legislature, before the Canadian Parliament paused for five weeks in response to coronavirus concerns. Since the agreement will be formally ratified by all three parties, it will allow the three countries to work together to implement the agreed trade standards. WASHINGTON – Canada approved the U.S.-Mexico-Canada Trade Agreement (USMCA) on March 13. “Overall, we believe this agreement will strengthen our most important and strategic business relationships with our closest neighbours and top customers, and allow our industry to continue to grow with our friends and partners in Mexico and Canada.” “Now that the USMCA has been approved by all three countries, a new historic chapter has been opened for North American trade,” U.S. Trade Representative Robert Lighthizer said in a press release.

Leave a Comment

Filed under Uncategorized

Comments are closed.