This new agreement provides changes in e-commerce, intellectual property protection and dispute resolution for investors
WASHINGTON.D.C. (Agencies) – Just a few days ago, Donald Trump, president of the United States, said how much he liked his Mexican counterpart and even nicknamed him “Juan Trump” since according to him, they are “very much alike”.
Yesterday, Wednesday 29 of January 2020 Mr. Trump signed the new trade pact with Mexico and Canada (T-MEC), this after several months of negotiations and which updates the North American Free Trade Agreement (NAFTA) which was signed in 1994.
In its Twitter account, the White House announced the event and also added a link with which Internet users could access a video to see how the New York tycoon signed this new trade agreement.
However, what is striking is that this tweet has a photograph of the former president of Mexico, Enrique Peña Nieto.
Signed, sealed, delivered: Today, President @realDonaldTrump puts his signature on USMCA! ?
Watch LIVE at 11:00 a.m. ET! https://t.co/EmsdctGWtd pic.twitter.com/Zmjn517c4A
— The White House (@WhiteHouse) January 29, 2020
This new agreement changes the content rules in auto manufacturing and requires higher wages for some Mexican auto workers. It also provides for changes in e-commerce, intellectual property protection and dispute resolution for investors, as well as stricter labor provisions requiring reforms to Mexico’s labor laws.
President Andres Manuel Lopez Obrador has boasted that the signing of the USMCA is an achievement of his government; however, it should not be forgotten that it was the Mexican president and his negotiating team who were responsible for engaging in dialogue with U.S. and Canadian officials to address the issues of this new trade agreement.
In addition, it should not be forgotten that AMLO was urging the ratification of the USMCA due to the fact that the money from the Mexicans through their social programs has run out, which has caused the economy to enter a recession.
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