United States-Mexico-Canada Agreement Wiki
On December 10, 2019, the three countries reached a revised USMCA agreement. On January 29, 2020, Deputy Prime Minister and Minister of Intergovernmental Affairs Chrystia Freeland introduced the USMCA C-4 Transposition Act in the House of Commons and passed the first reading without a registered vote. On February 6, the bill passed second reading in the House of Commons by 275 votes to 28, with the Bloc Québécois voting against and all other parties voting in its favour, and it was referred to the Standing Committee on International Trade.    On 27 February 2020, the committee voted to send the bill to Parliament for third reading, without amendments. The exact impact of the agreement is difficult to measure. Trade between Canada and the United States, which had already increased, accelerated after the signing of the agreement.  While exports accounted for about 25% of Canada`s gross domestic product (GDP) over the entire 20th century, exports have accounted for about 40% of GDP since 1990. After the year 2000, they reached almost 50%.  The United States, Mexico and Canada have agreed on the most advanced, comprehensive and highest environmental chapter of a trade agreement. Like the work chapter, the “Environment” chapter puts all environmental provisions at the heart of the agreement and makes them applicable.
Maquiladoras (Mexican assembly plants that absorb imported components and produce goods for export) have become the emblem of trade in Mexico. They left the United States for Mexico, hence the debate about the loss of American jobs. Revenues in the maquiladora sector had increased by 15.5% since nafta in 1994.  Other sectors have also benefited from the free trade agreement and the share of non-cross-border exports to the United States has increased over the past five years [when?], while the share of exports from border states has declined. This has led to rapid growth in non-cross-border metropolitan areas such as Toluca, Leén and Puebla, all more populated than Tijuana, Ciudad Juérez and Reynosa. The United States, Mexico and Canada have reached an agreement to modernize NAFTA, which is 25 years old, into a high-level agreement of the 21st century. The new agreement between the United States and Mexico-Canada (USMCA) will support mutually beneficial trade, which will lead to freer markets, fairer trade and robust economic growth in North America. In 1994, the United States, Mexico and Canada, with the North American Free Trade Agreement (NAFTA), created the world`s largest free trade region, which generated economic growth and helped improve the living standards of the people of the three member countries.
By strengthening trade and investment rules, this agreement has proven to be a solid foundation for building Canada`s prosperity and has provided a valuable example of the benefits of trade liberalization for the rest of the world.