The Regional Trade Agreement Between The Us Canada And Mexico Is Known As

Political scientist Daniel W. Drezner of Tufts University argued that NAFTA has made it easier for Mexico to transform into a true democracy and become a country that sees itself as North America. This has strengthened cooperation between the United States and Mexico. [81] The kick-off of a North American free trade area began with U.S. President Ronald Reagan, who made the idea part of his campaign by announcing his candidacy for president in November 1979. [15] Canada and the United States signed the Canada-U.S. Free Trade Agreement in 1988, and shortly thereafter, Mexican President Carlos Salinas de Gortari decided to address U.S. President George H. W. Bush proposed a similar agreement to make foreign investments after the Latin American debt crisis. [15] When the two leaders began negotiations, the Canadian government led by Prime Minister Brian Mulroney was concerned that the benefits obtained by Canada through the Canada-U.S. Free Trade Agreement would be undermined by a bilateral agreement between the United States and Mexico and asked to become part of the U.S.-Mexico talks.

[16] On January 29, 2020, President Donald Trump signed the agreement between the United States, Mexico and Canada. Canada has yet to pass it in its parliamentary body starting in January 2020. Mexico was the first country to ratify the agreement in 2019. In addition, there is a provision stating that the agreement itself must be reviewed every six years by the three nations, with a sunset clause of 16 years. The agreement can be extended by 16 years during the six years of revision. [51] The introduction of the sunset clause puts more control in the organization of the future of the USMCA in the hands of national governments. However, there is concern that this could lead to greater uncertainty. Sectors such as automotive manufacturing require significant investments in cross-border supply chains.

[52] Given the predominance of the consumer market in the United States, it is likely that this will put pressure on companies to install more production in the United States, with a greater likelihood of increasing the costs of producing these vehicles. [53] On June 1, 2020, the USTR Robert Lighthizer office released the Uniform Rules, which is the last obstacle to the implementation of the agreement on July 1, 2020. The text of the agreement is available here: On the 10th A revised USMCA agreement was concluded by the three countries on December 22, 2019. . .

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