The Agreement between the United States of America, the United Mexican States and Canada, commonly known as the United States-Mexico-Canada Agreement (USMCA), is a free trade agreement between Canada, Mexico and the United States to succeed NAFTA.    The agreement was referred to as “NAFTA 2.0″ or “New NAFTA” because many nafta provisions were included and its amendments were considered largely incremented. On July 1, 2020, the USMCA came into effect in all member states. Fox News reported on December 9, 2019 that negotiators from the three countries have reached an agreement on implementation, paving the way for a final agreement within 24 hours and ratification by all three sides before the end of the year. Mexico has agreed to the imposition of a $16 per hour minimum wage for Mexican autoworkers by a “neutral” third party. Mexico, which imports all of its aluminum, has also objected to the provisions on U.S. steel and aluminum content in automotive components.  The trade agreement will have a significant impact on many parts of the economy. There will be winners and losers. The text of the agreement was signed on 30 November 2018 by the Heads of State and Government of the three countries as a secondary event to the G20 Summit to be held in Buenos Aires, Argentina, on 30 November 2018.  The English, Spanish and French versions will be equally authentic and the agreement will enter into force after ratification by the three states through the adoption of enabling legislation.  USMCA countries must comply with IMF standards to prevent exchange rate manipulation. The agreement provides for the disclosure of market interventions.
The IMF may be convened as an arbitrator in the event of a dispute between the parties.  The Agreement between the United States, Mexico and Canada (USMCA) is a trade agreement between these parties. The USMCA replaced the North American Free Trade Agreement (NAFTA). As expected, the USMCA was signed by all three sides at the G20 summit in Buenos Aires on November 30, 2018.   Disputes over labour rights, steel and aluminum prevented the ratification of this version of the agreement.   On December 10, 2019, Canadian Deputy Prime Minister Chrystia Freeland, U.S. Trade Representative Robert Lightizer and Mexican Under Secretary of State for North America Jesus Seade formally signed a revised agreement on December 13, 2019. March 2020 has been ratified by all three countries. Regardless of this, on May 11, 2018, House of Representatives spokesman Paul Ryan set May 17 as the deadline for congressional action.
This deadline was not met and the agreement with Mexico was only concluded on 27 August 2018.  At that time, Canada had not yet approved the submitted agreement. Given that the outgoing President of Mexico, Enrique Peña Nieto, left office on 1 December 2018 and that 60 days of revision are required, the deadline for the submission of the agreed text was 30 September 2018, which was reached precisely on 30 September. Negotiators worked 24 hours a day and reached agreement on a draft text less than an hour before midnight on that date. The following day, October 1, 2018, the usmca text was published in the form of an agreed document….