The agreement between the United States – Mexico- Canada (USMCA in the United States, “CUSMA” in Canada and “T-MEC” in Mexico) came into force on July 1, 2020. The trade agreement between the three countries replaces the North American Free Trade Agreement (NAFTA). Manufacturing in Mexico accounts for 17% of GDP.  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.  Use the drop-down menu to search for an agreement by grouping of countries, type of contract or status. Or use the filter option to search for keywords. The United States, Mexico and Canada have agreed on the most advanced, comprehensive and highest environmental chapter of a trade agreement. Like the work chapter, the “Environment” chapter puts all environmental provisions at the heart of the agreement and makes them applicable. Supporting a 21st century economy through new measures to protect intellectual property in the United States and to secure trade opportunities for services in the United States. 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.  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.  Increasing the level of de minimis with major trading partners such as Mexico and Canada is an important outcome for small and medium-sized enterprises (SMEs) in the United States. These SMEs often cannot afford to pay tariffs and taxes and bear the increase in compliance costs, which, due to their low trading volume, are due to lower-value emissions due to their low level of de-administration.
During his 2016 election campaign and presidency, Trump sharply criticized NAFTA (it was often called “perhaps the worst trade deal of all time”  and hailed the USMCA as “an excellent deal for all of us.”  However, the USMCA is very similar to nafta, has adopted many identical provisions and has made only modest changes, mostly cosmetic, and is expected to have only a limited economic impact.  Former U.S. Trade Representative Mickey Kantor, who oversaw the signing of NAFTA during Bill Clinton`s administration, said, “This is really NAFTA of origin.”  The United States, Mexico and Canada have reached agreement on a modernized and highly standardized chapter on intellectual property (IP) that provides effective protection and respect for intellectual property rights, which are essential to promoting innovation, stimulating economic growth and supporting American jobs. The new trade pact brings a number of changes in several sectors. The full text of the agreement between the United States, Mexico and Canada is available here. On November 30, 2018, the USMCA was signed as planned by the three parties at the G20 summit in Buenos Aires.   Disputes over labour rights, steel and aluminum prevented ratification of this version of the agreement.   Canadian Deputy Prime Minister Chrystia Freeland, U.S. Trade Representative Robert Lightizer, and Mexican Under-Secretary of State for North America Jesus Seade officially signed a revised agreement on December 10, 2019, ratified by the three countries on March 13, 2020.
The renegotiated agreement contains a chapter on macroeconomic policies and exchange rate issues, with new political and transparent monetary commitments.