Usmca Agreement Content

Download The new chapter on market access will more effectively support trade in industrial goods between the United States, Mexico and Canada by removing provisions that are no longer relevant, updating important references, and reaffirming commitments made progressively under the original agreement. USMCA`s terms remain in effect for a period of 16 years, at which time the parties may choose to review and/or renegotiate the terms or terminate the agreement entirely. However, after six years, the USMCA sunset (16 years) may be reviewed and possibly extended if the parties consider that this would be beneficial. The United States, Mexico and Canada have reached an agreement to modernize the 25-year-old NAFTA into a high-level agreement of the twenty-first century.