On April 24, 2020, U.S. Trade Representative Robert Lighthizer formally announced to Congress that the new trade agreement is expected to come into effect on July 1, 2020, and he also informed Canada and Mexico.   For the first time, a trade agreement will require that the agreed text of the agreement be signed by the heads of state and government of the three countries on 30 November 2018 as an ancillary event at the 2018 G20 summit in Buenos Aires, Argentina.  The English, Spanish and French versions will also be binding and the agreement will take effect after ratification by the three states through the adoption of enabling laws.  National procedures for ratifying the agreement in the United States are governed by the legislation of the Trade Promotion Authority, which is also known as the fast track authority. New entrants to the Mexican and Canadian markets will also benefit from a lower cost to reach consumers. Express delivery drivers in the United States, which carry many poor quality shipments for these distributors, are also benefiting from reduced costs and increased efficiency. Before work, here`s some background. The World Trade Organization (WTO) is the multilateral organization that has established the basic rules of trade among its 164 member states, including the United States. Within the WTO, there are two non-tariff agreements that directly affect FDA regulators: the Agreement on the Application of Health and Plant Health Measures (SPS), which includes food and animal safety measures essential to the protection of human and animal health, and the agreement on technical barriers to trade or the CTA, which covers the technical rules necessary to ensure compliance with FDA requirements (and packaging).
transparency, normative measures and compliance assessment. Manufacturing in Mexico accounts for 17% of GDP.  However, Mexican President Andrés Manuel Lupepez Obrador believes that this trade agreement will be a clear positive for the Mexican economy through increased foreign investment, job creation and the expansion of trade.  The USMCA is expected to have very little impact on the economy.  An International Monetary Fund (IMF) discussion paper published at the end of March 2019 stated that the agreement would have a “negligible” impact on the general economy.   The IMF study predicted that the USMCA “would have a negative impact on trade in the automotive, textile and clothing sectors, while achieving modest welfare gains, mainly due to improved access to the goods market, with a negligible impact on real GDP.”  The IMF study concluded that the economic benefits of the USMCA would be greatly improved if there was an end to Trump`s trade war (i.e., if the United States did so.