USMCA countries must comply with IMF standards to avoid exchange rate manipulation. The agreement requires disclosure of market interventions. The IMF may be summoned as an arbitrator if the parties argue. [57] The entry into force of this revised agreement comes after a slight revision of the agreement at the end of 2019 to satisfy the American Democrats and after its ratification by the respective legislative bodies of the three countries. On June 19, 2019, the Mexican Senate ratified the agreement (114 yes, 3 no, 3 abstentions). [88] Mexico`s ratification process will be completed when the President announces its ratification to the Federal Register. 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. USMCA Schedule 23-A calls on Mexico to pass laws that improve the ability of unions to make collective agreements. [44] The specific standards that Mexico must meet are set out in Convention 98 of the International Labour Organization on freedom of association and collective bargaining. The government of Mexican President Andrés Manuel Lépez Obrador passed a law in late 2018 that respects these international standards. During his 2016 election campaign and presidency, Trump sharply criticized NAFTA (it was often called “perhaps the worst trade deal of all time” [105] and hailed the USMCA as “an excellent deal for all of us.” [106] However, the USMCA is very similar to nafta, has adopted many identical provisions and has made only modest changes, mostly cosmetic,[107] and is expected to have only a limited economic impact.

[108] 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.” [109] On May 30, U.S. Trade Representative Robert E. Lighthizer presented Congress with a draft statement on the administrative steps necessary to implement the U.S.-Mexico-Mexico-new NAFTA agreement, in accordance with the 2015 Presidential Trade Promotion Authority(TPA) Declaration of Administrative Action. 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.

Take advantage of U.S. farmers, ranchers and agricultural businesses by modernizing and strengthening food and agricultural trade in North America. The new trade pact brings a number of changes in several sectors.