New North American trade deal to take effect July 1, US says

Interesting timing.

Hmmm…

www.foxbusiness.com/economy/ew-north-american-trade-pact-to-take-effect-july-1-ustr

U.S. Trade Representative Robert Lighthizer on Friday said he has notified Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than initially proposed.

In a statement, Lighthizer said both Mexico and Canada had taken measures necessary to comply with their commitments under the U.S.-Mexico-Canada Agreement (USMCA), which replaces the 26-year-old North American Free Trade Agreement (NAFTA).

WHAT IS THE USMCA?

Some industries, including automakers, had been arguing for a delayed implementation because of the difficulties they are facing from the coronavirus pandemic.

Mexico had asked the United States and Canada for a longer transition period for the auto industry to certify that it was meeting new, more stringent North American content rules.

Lighthizer said his office would work to ensure a smooth implementation of the new trade rules.

READ THE FULL USMCA TRADE DEAL

www.investing.com/news/economic-indicators/new-north-american-trade-pact-to-take-effect-july-1-ustr-2150942

www.ibtimes.com/new-n-america-trade-deal-take-effect-july-1-us-2964731

Good deal or sucking sound 2.0?

 

h/t Builder