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AlwaysFree: New US-Mexico-Canada Trade Pact To Go Into Effect On July 1

Author: SSESSMENTS

The new US-Mexico-Canada trade agreement will take effect on July 1, US Trade Representative Robert Lighthizer said. Early June was the initially proposed time for the agreement.

Necessary measures had been taken by both Mexico and Canada to comply with their commitments under the US-Mexico-Canada Agreement, Lighthizer said in a statement. The North American Free Trade Agreement replaced with the new agreement.

Automakers and some other industries had been arguing for a delayed implementation because of coronavirus effects they are facing. A longer transition period for the auto industry had been requested by Mexico to certify that it was meeting new and more stringent North American content rules.

Leaving US$1.2 trillion in annual US-Mexico-Canada trade flows largely unchanged, the accord includes tougher rules on labour and automotive content.

Tags: All Products,AlwaysFree,Canada,English,Mexico,US

Published on April 29, 2020 2:41 PM (GMT+8)
Last Updated on April 29, 2020 2:41 PM (GMT+8)