Hoosier Farmers Welcome New Trade Agreement Between US, Mexico and Canada

Clay Curtis
July 3, 2020

The new, more flexible USMCA will improve rules of origin for automobiles and other vehicles; bolster disciplines on currency manipulation; modernize and strengthen food and agriculture trade; create new protections for US intellectual property; and ensure trade opportunities for USA services. Mexico celebrated on Wednesday, July 1, 2020, the implementation of the new free trade agreement with Canada and the United States that it hopes will lead to more investment in its struggling economy. It said in a statement, "USMCA successfully renegotiates the North American Free Trade Agreement (NAFTA) and brings North American trade into the 21st century".

"I remain very concerned that Mexico is falling short of its commitments to implement the legislative reforms that are the foundation in Mexico for effectively protecting labor rights", U.S. Representative Richard Neal, chairman of the House Ways and Means Committee, said on Tuesday, adding that USMCA's success "truly hinges" on its new labor enforcement mechanism.

Canada ratified the trade agreement on April 3.

He noted, "The reduction of trade barriers, especially as it relates to the transportation and storage of natural gas between the USA and Mexico, has multiple benefits, including many more jobs for Mexican citizens and no job losses in the U.S". Canada was the last member country to ratify it after Mexico on June 19, 2019, and the USA on December 19, 2019.

Skerritt hails Weekes as founding father of cricket
Weekes' batting average of 58.61 is the 10th highest of all batsmen to have played at least 20 Test innings. Weekes officiated as an ICC match referee in three Tests and four One Day Internationals, all in 1994.

According to the International Trade Commission if USMCA is implemented as negotiated US dairy exports are projected to increase by more than $314 million a year.

The panel also includes Stephen Vaughn, the USTR's former general counsel and key lieutenant to Lighthizer himself who served as acting trade ambassador in the early days of the administration. The arrest of Mexican labour lawyer Susana Prieto earlier in June has fuelled United States unions' arguments that Mexican workers' rights are not being protected. Mexico is the top buyer of US corn and DDGs.

USMCA will put new compliance burdens on the region's automotive manufacturers as the coronavirus craters consumer spending and auto production.

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