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USMCA: Mexico confirms the new free trade agreement among the three North American countries

The country was the first to ratify the agreement that still waits for the confirmations of the USA and Canada

G20 EUA Canada and Mexico announced a new agreement to replace Nafta
  • The free trade agreement proposal was announced during the G20 in November of 2018.
  • Mexico was the first country to actually ratify the agreement with 104 votes against 4.
  • The large majority pro-UMSCA in Mexico was already expected. The process had already begun in Canada too, but it can face a hard time in the USA congress.

In November of 2018, the current presidents of the USA, Canada, and Mexico announced during the G20 event a new free trade agreement proposal called USMCA that can replace the NAFTA. Now this plan seems to be nearly to get out of the paper. 

The Mexican Senate approved the proposal in favor of the USMCA with 104 votes against 4, being the first one to ratify the agreement between the North American countries, according to Valor Econômico. The large majority pro-USMCA was already expected, “Mexico leads on, with clear signals that our economy is an open market economy. We expect that our partners could do the same soon on behalf of one strong North America, with clear rules, attractive for investments, stable and competitive”, stated Jesús Seade, the vice-minister of foreign affairs in Mexico, on Twitter.

While Canada has already given the first steps in order to approve the USMA, the USA congress represents now the major obstacle, even that the first movement to update has been a request from Donald Trump.