United States Mexico Canada Free Trade Agreement

In addition to the provisions of the original NAFTA, the USMCA draws heavily on the Trans-Pacific Partnership (TPP) and Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade agreements. On April 3, 2020, Mexico announced its readiness to implement the agreement and join Canada. [15] The agreement entered into force on 1 July 2020. [16] [17] [18] [19] In addition to its cooperation with the WTO, the United States has concluded trade agreements with 20 countries covering a number of issues, ranging from tariffs on products and access to agricultural markets to intellectual property and the environment. For the FDA, specific topics are chapters of regulatory agreements such as SPS MEASURES, OET and Good Regulatory Practices – as well as sector chapters on cosmetics, medical devices and medicines, where applicable. [13] The full list of differences between the USMCA and NAFTA can be found on the USTR (United States Trade Representative) website. [14] During the 2016 presidential campaign, Donald Trump promised to renegotiate NAFTA, which he called „the worst trade deal ever.“ As president, he did. The result is the USMCA, which Trump signed in January and which he considered one of his most significant achievements in his State of the Union address. Before we linger, here`s a bit of background. The World Trade Organization (WTO) is the multilateral organization that established the basic rules of trade between its 164 member states, including the United States.

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