FB NEWS – The Mexican Senate this week approved the U.S.–Mexico–Canada agreement, making Mexico the first country to ratify the pact. Canada has started the ratification process through its Parliament and, as required, Trump administration trade officials have sent to Congress a draft statement regarding the implementation of the agreement.
“The USMCA will provide new market access for dairy and poultry products and maintains the zero-tariff platform on most ag products. It includes provisions for improved health and safety standards that will reduce trade-distorting practices. It also contains measures that address cooperation, information sharing and other trade rules among the three nations related to agricultural biotechnology and gene editing. We still have work to do in some areas, such as addressing the timing of import surges from Mexico to ensure they do not harm our domestic fruit and vegetable sectors. However, we need to secure the gains that are in front of us today,” American Farm Bureau Federation President Zippy Duvall said in response to the Trump administration moving the USMCA toward U.S. ratification.
The Office of the U.S. Trade Representative submitted its draft statement and the final legal text of the USMCA to Congress on May 30. Under the guidelines for the consideration of trade agreements, the administration may, but is not required to, submit the implementing legislation for the agreement on July 9 at the earliest.
Posted By: FB News, June 21, 2019