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An April 2019 Analysis by the International Trade Commission on the likely effects of the USMCA estimated that the agreement would increase U.S. real GDP by 0.35 percent if the agreement were fully implemented (six years after ratification) and would increase total U.S. employment by 0.12% (176,000 jobs). [114] [115] The analysis cited by another Congressional Research Service study showed that the agreement would not have a measurable effect on employment, wages or overall economic growth. [114] In the summer of 2019, Larry Kudlow, Trump`s chief economic adviser (the director of the National Economic Council at Trump White House), made unfounded statements about the likely economic impact of the agreement and overstated forecasts related to jobs and GDP growth. [114] In addition to the original NAFTA provisions, the USMCA borrows significant credits under the Trans-Pacific Partnership (TPP) trade agreements and the Trans-Pacific Partnership (PPAC) Comprehensive and Progressive Agreement. On April 3, 2020, Mexico announced its willingness to implement the agreement and joined Canada. [15] The agreement came into force on July 1, 2020. [16] [17] [18] [19] On December 10, 2019, the three countries reached a revised USMCA agreement. On January 29, 2020, Deputy Prime Minister and Minister of Intergovernmental Affairs Chrystia Freeland introduced the USMCA C-4 Transposition Act in the House of Commons[93] and passed the first reading without a registered vote. On February 6, the bill passed second reading in the House of Commons by 275 votes to 28, with the Bloc Québécois voting against and all other parties voting in its favour, and it was referred to the Standing Committee on International Trade. [99] [100] [101] On 27 February 2020, the committee voted to send the bill to Parliament for third reading, without amendments.

The agreement between the United States of America, the United States of Mexico and Canada[1], commonly known as the United States-Mexico-Canada Agreement (USMCA), is a free trade agreement between Canada, Mexico and the United States in lieu of the North American Free Trade Agreement (NAFTA). [2] [3] [4] The agreement has been referred to as NAFTA 2.0[5][7][7] or “New ALEFTA[8][9],[9] since many nafta provisions have been introduced and its amendments have been found to be largely incremental. On 1 July 2020, the USMCA came into force in all Member States. 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 U.S.-Mexico-Canada agreement is based on the North American Free Trade Agreement (NAFTA), which originally came into force on January 1, 1994. The agreement under consideration was the result of more than a year of negotiations including possible U.S. tariffs on Canada, in addition to the possibility of separate bilateral agreements. [20] In summary, the USMCA contains many provisions that advance public health and FDA regulatory approaches.