Latest Nafta Agreement

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. On December 9, 2019, Fox News reported that negotiators from the three countries reached an agreement on implementation, paving the way for a final agreement within 24 hours and ratification by all three parties before the end of the year. Mexico has agreed to impose a minimum wage of $16 per hour for Mexican auto workers by a “neutral” third party. Mexico, which imports all of its aluminum, also objected to the provisions relating to the U.S. steel and aluminum content of automotive components. [37] OTTAWA — On July 1, the renegotiated North American Free Trade Agreement will enter into force, three years after the start of talks to review the trilateral trade agreement between Canada, the United States and Mexico. The agreement is a good thing for 16 years, but a mandatory “joint review” will be carried out within the first six years to determine whether the three countries wish to renew the agreement for a further 16 years. It maintains the six-month opt-out agreement that existed before. However, Canada`s duty is to respect the self-management agreements of Aboriginal peoples, which are included in a footnote.

The United Nations Declaration on the Rights of Indigenous Peoples is not one of them. The new agreement, signed in November 2018, is described by Canadian government officials as a free trade agreement between Canada and the United States and Mexico, or abbreviated CUSMA, while U.S. President Donald Trump calls it the U.S.-Mexico-Canada agreement or USMCA. 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. On May 30, U.S. Trade Agent Robert E. Lighthizer presented To Congress a draft declaration on the administrative measures necessary to implement the U.S.-Mexico agreement (USMCA and the new NAFTA), pursuant to the Presidential Trade Promotion Authority (TPA) Act 2015 (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 House of Representatives critic Nancy Pelosi and Minority House Republican Leader Kevin McCarthy, Lighthizer said the USMCA is the gold standard in the United States.