Integration Point Blog Mexico Senate Ratifies USMCA

On June 19, Mexico became the first nation to ratify the United States-Mexico-Canada Agreement (USMCA) in a sweeping Senate vote. The agreement was signed by the three countries in 2018 to replace the 25-year-old North American Free Trade Agreement (NAFTA). The free trade agreement, when ratified by the U.S. and Canada, will update the terms of trade to regulate sectors such as ecommerce that did not exist when NAFTA was negotiated in 1994. The USMCA incorporates a sunset clause that says the terms of agreement will expire in 16 years unless re-negotiated.