On June 19, 2019, the Mexican Senate ratified the agreement (114 yes, 3 no, 3 abstentions). [88] Mexico`s ratification process will be completed when the President announces its ratification to the Federal Register. To facilitate the strengthening of cross-border trade, the United States has reached an agreement with Mexico and Canada to increase the value of de minimis delivery. For the first time in decades, Canada will increase its de minimis level from $20 to $40 for taxes. Canada will also offer duty-free shipments of up to 150 $US. Mexico will continue to provide $50 of tax-exempt de minimis and will also provide duty-free shipments up to the equivalent of $117. Shipping rates to this level would be achieved with minimum formal entry procedures, which would allow more businesses, particularly small and medium-sized enterprises, to be part of cross-border trade. A new addition to the USMCA is the inclusion of Chapter 33, which covers macroeconomic policies and exchange rate issues. This is considered important because it could set a precedent for future trade agreements. [54] Chapter 33 sets out requirements for currency and macroeconomic transparency that, in the event of a breach, would be grounds for litigation under Chapter 20.

[54] The United States, Canada and Mexico currently meet all of these transparency requirements in addition to substantive policy requirements that comply with the international Monetary Fund`s articles. [55] The Trump administration`s office proposed the USMCA citing new digital trade measures, strengthening the protection of trade secrets and adapting the rules of origin of the automobile among the benefits of the trade agreement. [112] The provisions of the Convention cover a wide range of agricultural products, from the homeless, industrial products, to working conditions and digital trade. 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] In particular, the chapter has the most robust trade secrets protection of a previous U.S. trade agreement. It includes all the following safeguards against the misuse of trade secrets, including by state-owned enterprises: civil proceedings and remedies, criminal proceedings and sanctions, prohibitions on obstruction of the licensing of trade secrets, judicial proceedings to prevent the disclosure of trade secrets during the judicial proceedings and sanctions against government officials for unauthorized disclosure of trade secrets. 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.