New North American trade treaty to enter into force on July 1


The new North American Trade Agreement (USMCA) will enter into force on July 1, 2020, U.S. Representative Robert Lighthizer said in a notification to the United States Congress. Canada and Mexico have taken the measures necessary to meet all their obligations under the USMCA, according to a statement on the official website of Lighthizer's office. It is noted that the agreement will provide the population of the three countries with new jobs, create more reliable labor protection and expand access to markets. Recall, the new trade agreement of the USA, Canada and Mexico signed in January 2020. The document will replace the North American Free Trade Area (NAFTA) Agreement, which has been in force since 1994.

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