President Trump signed the implementing legislation for the USMCA yesterday, making the United States the second of the three countries, after Mexico last December, to sign the agreement. The USMCA will not take effect until 90 days after it is ratified by Canada. The Liberals currently operate a minority government, and while the Conservatives have
U.S.-Mexico-Canada Agreement (USMCA) Passes Senate
Today, the U.S.-Mexico-Canada Agreement (USMCA) passed the U.S. Senate by a vote of 89 to 10. While some Senators expressed disapproval over the deal for various reasons, passage of the USMCA enjoyed a great deal of bipartisan support after Democrats in the House of Representatives negotiated for more labor enforcement mechanisms that earned the endorsement
U.S.-Mexico-Canada Agreement (USMCA) Passes House, Setting Stage for Vote in the Senate in 2020
The U.S.-Mexico-Canada Agreement (“the USMCA”) passed the U.S. House of Representatives on December 19, 2019, by a vote of 385 to 41. In order to be fully ratified by the United States, the USMCA must now be approved by the U.S. Senate, which has a total of up to 30 session days after the House
Trump Administration and House Democrats Reach Agreement to Move USMCA Forward
On December 10, 2019, House Speaker Nancy Pelosi stated in a press conference that Democrats had reached an agreement with the Trump Administration on the new U.S.-Mexico-Canada Agreement (“USMCA”) intended as a NAFTA update, clearing the way for Congress to vote on the trade agreement. Speaker Pelosi called the agreement “a victory for America’s workers”
How Does the Government Shutdown Affect Trade?
With the government shutdown entering its fourth week and with no end in sight, a number of federal agencies are feeling the pressure. The Department of Commerce and the U.S. International Trade Commission have been effectively shuttered for the past four weeks and recently the Office of the U.S. Trade Representative released a short statement indicating that they had begun furloughing nonessential personnel. A number of other agencies and departments have also had their work affected or completely suspended. Outlined below is a brief analysis the current shutdown is having on those federal agencies which are critical to imports, exports, and international trade.
U.S., Mexico, and Canada Sign NAFTA Replacement
Immediately before the G-20 Summit Meeting on November 30, 2018 in Buenos Aires, President Trump, Canadian Prime Minister Trudeau, and Mexican President Nieto ceremonially signed the new United States-Mexico-Canada Agreement (USMCA). Although each leader signed the Agreement, this does not mean that it will go into effect, as the Agreement must now be approved
United States-Mexico-Canada Agreement (“USMCA”), the NAFTA Replacement
Late on September 30, 2018, the United States and Canada reached a new trade agreement (the USMCA) that addresses many of the contentious issues that delayed Canada from rejoining the countries’ trilateral trade agreement (NAFTA).
In a joint statement, Canadian Foreign Affairs Minister Chrystia Freeland and U.S. Trade Representative Robert Lighthizer said that the new agreement “will give our workers, farmers, ranchers, and business a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region. It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home.”
Retaliatory Actions Against Trump’s Tariffs: What Businesses Should Do When Allies Hit Back
After President Trump announced steel and aluminum tariffs on several of the country’s allies in March 2018, a number of EU countries, Mexico, and Canada immediately announced retaliatory tariffs against American products. Other trade partners and allies have also made plans to seek remedies through the North American Free Trade Agreement (NAFTA) and the World
Tariffs to Be Imposed on Imported Steel and Aluminum from the EU, Canada, and Mexico
Commerce Secretary Wilbur Ross announced on Thursday, May 31st that a 25 percent tariff on steel and a 10 percent tariff on aluminum will go into effect at midnight on May 31 on imports from Canada, Mexico, and the European Union. Those countries had previously been granted temporary exemptions from the initial tariffs announced in March as a result of investigations under Section 232 of the Trade Expansion Act of 1962. According to Secretary Ross, while discussions with the European Union were ongoing, the progress did not warrant another temporary exemption. Additionally, this announcement comes in the middle of the North American Free Trade Agreement (“NAFTA”) re-negotiations with Canada and Mexico. Ross stated that those talks have taken longer than expected and there is no precise end date in sight.
NAFTA Renegotiations Update
The fifth round of NAFTA talks ended last week in Mexico City, making limited headway on the renegotiations.
During the round, the parties made progress on certain technical issues of the trade agreement, including digital trade, telecommunications, anti-corruption, and customs procedures.