Since NAFTA’s implementation in 1994, trade and investment across North America has expanded, regional competitiveness has increased, and the economic relationship between Mexico, the United States, and Canada has strengthened. Additionally, we have become a deeply integrated region with manufacturing, production, and supply chains that span borders. These value chains are critical for advanced industries, such as high-value engineering and research & development, as well as for intensive sectors, such as aerospace, automotive, electronics, and precision instruments.

On September 30th, 2018, after 13 months of deliberations the USMCA (United States-Mexico-Canada Agreement) was drafted to replace NAFTA. Two months later, Mexico, the United States, and Canada signed the USMCA on the sidelines of the G20 summit in Buenos Aires, Argentina.

Here, you will be able to read the complete text of the USMCA, as well as a deeper explanation of some of the most important chapters contained in the agreement.
 

 

 

    

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  • U.S. total trade with its NAFTA partners is 52% larger than U.S.-European Union trade.

  • In 2018, the U.S. exported more than twice as much to both Mexico and Canada, than it did to China.
  • The North American supply chain is highly integrated; Mexican products have a high level of US components.
     

  • One car part can cross the border up to 8 times before the car is finally assembled in order to maximize efficiency.

  • USMCA modernizes the rules for trade in North America with state-of-the-art provisions in the following areas: market access, digital trade, intellectual property, agriculture, regulatory and technical barriers to trade, financial services, customs, state-owned enterprises, competition policy, and enforcement.