On December 10, 2019, at an event in Mexico’s National Palace, the modifying protocol agreement to finalize the US-Mexico-Canada Trade Agreement (USMCA) (that will replace the North American Free Trade Agreement or NAFTA).was signed in the presence of Mexican President Andres Manuel Lopez Obrador, by Canada’s Deputy Prime Minister Chrystia Freeland, Mexico’s Undersecretary of Foreign Affairs for North America Jesus Seade, and US Trade Representative Robert Lighthizer. The signing was made possible by an agreement reached earlier in the day by the Administration and House of Representative Democrats, which was announced by House Speaker Nancy Pelosi and Ways and Means Chairman, Richard Neal. Neal outlined some of the changes in the deal reached with the White House on the USMCA Trade Agreement on labor and environmental enforcement rules, drug pricing, and other issues. Although the USMCA had been signed in November 2018, the Democrats in Congress wanted some changes before they were willing to support it. The actual text of the new modifications has not yet been made public.
The changes must be ratified by the Mexican Senate (which had previously ratified the USMCA signed in November 2018) and approved by Canada’s Parliament and the US Congress before it can enter into effect.
