On December 9, 2019, Fox News reported that negotiators from the three countries reached an agreement on implementation, paving the way for a final agreement within 24 hours and ratification by all three parties before the end of the year. Mexico has agreed to impose a minimum wage of $16 per hour for Mexican auto workers by a “neutral” third party. Mexico, which imports all of its aluminum, also objected to the provisions relating to the U.S. steel and aluminum content of automotive components.  On April 20, 2020, CBP issued interim execution instructions. These interim execution instructions were then updated to reflect the published uniform rules and General Note 11. To view the full text of the agreement between the United States, Mexico and Canada, click here. On June 19, 2019, the Mexican Senate ratified the agreement (114 yes, 3 no, 3 abstentions).  Mexico`s ratification process will be completed when the President announces its ratification to the Federal Register. The provisions of the Convention cover a wide range of agricultural products, homelessness, industrial products, working conditions and digital commerce. Among the most important aspects of the agreement are improving U.S. dairy farmers` access to the Canadian market, guidelines for a greater proportion of automobiles produced in the three countries and not imported from other countries, and maintaining the dispute settlement system, which is similar to that contained in NAFTA.   U.S.
Customs and Border Protection (CBP) has established a USMCA centre to serve as a one-stop shop for information on the USMCA. The USMCA Center coordinates CBP`s implementation of the USMCA agreement and ensures a smooth transition through consistent and comprehensive guidelines for our internal and external stakeholders. A new addition to the USMCA is the inclusion of Chapter 33, which covers macroeconomic policies and exchange rate issues. This is considered important because it could set a precedent for future trade agreements.  Chapter 33 sets out requirements for currency and macroeconomic transparency that, in the event of a breach, would be grounds for litigation under Chapter 20.  The United States, Canada and Mexico currently meet all of these transparency requirements in addition to substantive policy requirements that comply with the international Monetary Fund`s articles.  The Trump administration`s office proposed the USMCA citing new digital trade measures, strengthening the protection of trade secrets and adapting the rules of origin of the automobile among the benefits of the trade agreement.  On May 30, U.S.
Trade Representative Robert E. Lighthizer presented Congress with a draft statement on the administrative steps necessary to implement the U.S.-Mexico-Mexico-new NAFTA agreement, in accordance with the 2015 Presidential Trade Promotion Authority(TPA) Declaration of Administrative Action.