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  • U.S., Mexico, Canada Sign New Trade Agreement

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    December 03, 2018

    On November 30, President Donald J. Trump, Mexican President Enrique Peña Nieto, and Canadian Prime Minister Justin Trudeau signed the new United States-Mexico-Canada Agreement (USMCA). President Trump called the new USMCA the “most modern, up-to-date, and balanced trade agreement in the history of our country.”

    At the signing, at the G20 meeting in Buenos Aires, Argentina, President Trump personally thanked outgoing Mexican President Peña Nieto, who then concluded the ceremony celebrating the close relationship between Mexico, Canada, and the United States, saying, “We’re ready to begin a new chapter in our shared history.”

    Next Steps

    Now that the agreement has been signed, the next steps per the procedures outlined in the Trade Promotion Authority (TPA) may begin:

    • The U.S. International Trade Commission (ITC) now has 105 days from the signing of the agreement—until February 15, 2019—to report on how it will affect jobs and the economy. Congress typically waits for this report before considering a new trade agreement.
    • The TPA also requires the President to send Congress a draft statement of administration action and the text of the final agreement at least 30 days before submitting the legislation. Then the U.S. House Ways and Means Committee and U.S. Senate Finance Committee may provide feedback to the administration, which then drafts the bill.
    • Finally, the President sends the bill to Congress.

    The TPA then lays out timelines for committee action and floor debate.  More Information