The Canadian government noted that the “CUSMA outcomes preserve key elements of the long-term trading relationship and contain new and updated provisions to address twenty-first century trade issues and promote opportunities.” The agreement is referred to differently by each signatory – in the United States, it is called the Agreement between the United States, Mexico and Canada (USMCA). [1] [23] In Canada, it is officially known as the Canada-United States-Mexico Agreement (CUSMA) in English[24] and the Canada-United States-Mexico Agreement (CUSMA) in French; [25] and in Mexico, tratado entre México, Estados Unidos y Canadá (T-MEC) is called. [26] [27] The agreement is sometimes referred to as “New NAFTA”[28][29], in line with the previous trilateral agreement intended to replace it, the North American Free Trade Agreement (NAFTA). For the first time, a trade agreement requires the chapter to most robustly protect the trade secrets of all previous U.S. trade agreements. It includes all of the following safeguards against the usurpation of trade secrets, including by state-owned enterprises: civil procedures and remedies, criminal proceedings and sanctions, prohibitions on preventing the granting of trade secret licences, legal proceedings to prevent the disclosure of trade secrets during litigation, and sanctions for government officials for unauthorized disclosure of trade secrets. The United States had already concluded a free trade agreement (FTA) with Canada in 1988, but the addition of a less developed country like Mexico was unprecedented. Opponents of NAFTA have picked up the wage gap with Mexico, which had a per capita income of only 30 percent [PDF] of the United States. ==Presidential candidate Ross Perot argued in 1992 that trade liberalization would lead to a “huge suction noise” of American jobs fleeing the border. Supporters like Presidents Bush and Clinton responded that the deal would create hundreds of thousands of new jobs a year, while Mexican President Carlos Salinas de Gortari saw it as an opportunity to modernize the Mexican economy, so it would “export goods, not people.” This agreement is the result of a renegotiation between the member states of the North American Free Trade Agreement from 2017 to 2018, which informally agreed on the terms of the new agreement on 30 September 2018 and formally on 1 October. [10] The USMCA was proposed by U.S. President Donald Trump and adopted on November 18, 2018, signed by Trump, Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau as a side event of the G20 summit in Buenos Aires in 2018.

A revised version was signed on December 10, 2019 and ratified by all three countries, with final ratification (Canada) taking place on March 13, 2020, just before the postponement of the Canadian Parliament due to the COVID-19 pandemic. The Trump administration`s Office of the U.S. Trade Representative has proposed the USMCA, citing new digital trade measures, stronger trade secret protections and adaptations to rules of origin for motor vehicles as some of the benefits of the trade deal. [112] The FDA was an important member of the U.S. team that negotiated the U.S.-Mexico-Canada Agreement (USMCA), which came into effect on July 1. From the FDA`s perspective, the agreement meets regulatory standards with the practices of authorities, improves the quality of products available to U.S. consumers, and improves the competitive environment for U.S. companies. Economists David Auteur, David Dorn and Gordon Hanson would assess the impact of trade with China and Mexico on the U.S. labor market in this 2016 paper [PDF] for the National Bureau of Economic Research. The provisions of the agreement cover a wide range of agricultural products, homelessness, manufactured products, working conditions, digital trade and others.