On May 11, 2018, House Of Representatives spokesman Paul Ryan set May 17 as the deadline for congressional action. This deadline was not met and the agreement with Mexico was not reached until August 27, 2018. [33] At that time, Canada had not approved the agreement. Mexico`s outgoing President Enrique Pea Nieto, having left office on 1 December 2018 and requiring 60 days as a review period, the deadline for making the agreed text available was set at the end of September 2018, 30 September 2018. Negotiators worked around the clock and reached an agreement less than an hour before midnight on a draft text. The next day, October 1, 2018, the USMCA text was published as an agreed document. But the United States.M.C.A. retain a more controversial addition to the Trump administration – a sunset clause that requires all three countries to verify they remain in the agreement after six years. If a country decides not to pursue the pact, the U.S.M.C.A.

expires 16 years later. An April 2019 Analysis by the International Trade Commission on the likely effects of the USMCA estimated that the agreement would increase U.S. real GDP by 0.35 percent if the agreement were fully implemented (six years after ratification) and would increase total U.S. employment by 0.12% (176,000 jobs). [114] [115] The analysis cited by another Congressional Research Service study showed that the agreement would not have a measurable effect on employment, wages or overall economic growth. [114] In the summer of 2019, Larry Kudlow, Trump`s chief economic adviser (the director of the National Economic Council at Trump White House), made unfounded statements about the likely economic impact of the agreement and overstated forecasts related to jobs and GDP growth. [114] In addition to the original NAFTA provisions, the USMCA borrows significant credits under the Trans-Pacific Partnership (TPP) trade agreements and the Trans-Pacific Partnership (PPAC) Comprehensive and Progressive Agreement. On April 3, 2020, Mexico announced its willingness to implement the agreement and joined Canada. [15] The agreement came into force on July 1, 2020. [16] [17] [18] [19] NAFTA has three primary dispute resolution mechanisms. Chapter 20 is the settlement mechanism for countries.