The revamped trade pact between the United States, Canada, and Mexico takes effect today, July 1. The USMCA includes tighter North American content rules for autos, new intellectual property protections, prohibitions against currency manipulation, and new laws for digital commerce.
The USMCA will replace the North American Free Trade Agreement (NAFTA), which took effect in 1994 and has been criticized by President Trump as the “worst trade deal ever made.” The new agreement was signed into law in January.
The National Association of Manufacturers’ (NAM) President and CEO Jay Timmons released the following statement on the entry into force of the United States–Mexico–Canada Agreement:
“This is a milestone day for manufacturers, years in the making. The landmark trade agreement we fought hard to secure now enters into force at a critical time. It will help restore certainty, ensure supply chain continuity and provide opportunities for economic growth—all of which will help our industry lead the nation’s recovery and renewal.
“The United States, Mexico and Canada must continue working together to ensure that the USMCA is implemented in a way that will bolster that recovery and renewal and maintain broad support for open, rules-based North American trade—this year, next year and well into the future. The stakes have never been higher.”
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