December 11, 2019
On Tuesday, December 10, a revised U.S.-Mexico-Canada agreement, known as the USMCA, was signed by the three countries in a ceremony held in Mexico City. The USMCA will replace the North American Free Trade Agreement. Mexico approved the USMCA on Thursday evening by a wide margin, 107-1. A vote in the U.S. House of Representatives is expected to take place Thursday with the Senate taking it up in the new year.
The full text of the USMCA as agreed to by the U.S., Canada, and Mexico, can be found here. To read the text of the implementation bill click here.
Highlights from the agreement:
- Assistance for small & medium-sized businesses
- Customs efficiencies will reduce border wait times
- Authorization of North American Development Bank
- Funding for EPA grants under the Border Water Infrastructure Program to address pollution on the U.S.-Mexico border
The Chamber issued a statement in support of the deal and urging Congressional leaders to vote in support of the agreement.
Chamber President & CEO Jerry Sanders and Vice President of International Business Affairs Paola Avila were also featured in several news stories about the USMCA deal: