Mexico is the First Country to Ratify USMCA
On June 19, 2019 the Mexican Senate approved T-MEC, Mexico’s acronym for USMCA, with an overwhelming majority of 114 votes in favor and only 4 against. The agreement will now be sent to President Andres Manuel Lopez Obrador (AMLO) for his signature. Mexico sends a strong message in favor of North America and its commitment to free trade.
The newly negotiated North American agreement, now called the United States-Mexico-Canada Agreement, otherwise known as USMCA, was first signed on November 30, 2018. United States President Donald Trump, Canadian Prime Minister Justin Trudeau and former Mexican President Enrique Pena Nieto were able to come together in Buenos Aires, Argentina during sidelines of the G20 Summit to sign the deal.
By the way, it is normal practice that each country puts its own name first in multilateral treaties. Canada will change the order of the countries in its legal version of the name, putting Canada first (CUSMA). Mexico will call the new agreement T-MEC.
Before the new pact officially takes effect the legislatures of all three countries need to approve the agreement. Mexico has taken the first steps to make this happen.
Scarbrough, along with NASCO and Dickinson Wright, recorded a discussion and Q&A session for clients in early 2019. The below snippet talks about the political hurdles and enforcement timeline in accordance to the USMCA. To view the entire Discussion & Q&A recording, click here. The discussion runs through the benefits of the USMCA, big changes in policy, and how it effects several industries.
To download some helpful resources & a presenation, click here.
Scarbrough is known for its expertise in trade policy and especially North American trade. Our team of experts can help clients with Customs Brokerage in each North American country, as well as transportation. Furthermore, the process to ship to Mexico is extremely complex. Luckily we have an office on both sides of the border. In fact, our Southern Border Operations Manager was a former Mexico Customs agent and has agreed to offer up free consultations. If you need help with shipping to or from Mexico …. or Canada for that matter (because we have experts in that area too), please take advantage of our expertise!