Mexico And United States Trade Agreement

3:53 pm Uncategorized

The United States and Mexico have reached agreement on a modernized, highly standardized chapter on intellectual property (IP), which provides effective and robust protection and application of intellectual property rights, which are essential to promoting innovation, stimulating economic growth and supporting American jobs. On May 30, U.S. Trade Representative Robert E. Lighthizer presented Congress with a draft declaration on the administrative steps needed to implement the U.S.-Mexico Agreement (USMCA and the new NAFTA), in accordance with the 2015 Presidential Trade Promotion (TPA) Administrative Action Statement. The project will allow congress to be presented to Congress, after 30 days, on June 29, a law to implement the USMCA. In a letter [73] to Nancy Pelosi, House of Representatives spokeswoman Kevin McCarthy, the minority leader of the House of Representatives, the Republican, told Lighthizer that the USMCA was the gold standard in U.S. trade policy, modernizing the competitive trade in digital, intellectual property and services in the United States and creating a level playing field for U.S. businesses. , workers and farmers, an agreement that represents a fundamental shift in trade relations between Mexico and Mexico.

For the first time in a U.S. trade agreement, the agreement prohibits local data storage requirements in circumstances where a financial supervisory authority has access to the data it needs to fulfill its regulatory and supervisory mandate. USMCA countries must comply with IMF standards to avoid exchange rate manipulation. The agreement requires disclosure of market interventions. The IMF may be summoned as an arbitrator if the parties argue. [57] The agreed text of the agreement was signed by the heads of state and government of the three countries on 30 November 2018 as a secondary event at the 2018 G20 summit in Buenos Aires, Argentina. [34] The English, Spanish and French versions will also be binding and the agreement will take effect after ratification by the three states through the adoption of enabling laws. [35] Trade policy is a subject that does not necessarily come to mind when we think of the FDA. But in fact, there are two reasons why the FDA is closely following trade policy: protecting our rules and authorities and using trade agreements as a vehicle to promote public health. On April 24, 2020, U.S. Trade Representative Robert Lighthizer formally announced to Congress that the new trade agreement is expected to come into effect on July 1, 2020, and he also informed Canada and Mexico. [86] [87] Increasing the level of de minimis with a major trading partner such as Mexico is a decisive outcome for small and medium-sized enterprises (SMEs) in the United States.

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