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Usmca Agreement Content

19 dezembro 2020

The renegotiated agreement contains a chapter on macroeconomic policies and exchange rate issues, with new political and transparent monetary commitments. The chapter will address unfair monetary practices by requiring high-level commitments to avoid any devaluation of competition and to target exchange rates, while significantly increasing transparency and providing accountability mechanisms. This approach is unprecedented in the framework of a trade agreement and will contribute to strengthening macroeconomic stability and exchange rates. The United States, Mexico and Canada have reached agreement on a modernized, quality chapter of intellectual property (IP) that provides effective protection and protection and intellectual property rights essential to promoting innovation, economic growth and supporting American jobs. In particular, the chapter has the strongest trade secrets protection of a previous U.S. trade agreement. It includes all the following safeguards against the misuse of trade secrets, including by state-owned enterprises: civil proceedings and remedies, criminal proceedings and sanctions, prohibitions on obstruction of the licensing of trade secrets, judicial proceedings to prevent the disclosure of trade secrets during the judicial proceedings and sanctions against government officials for unauthorized disclosure of trade secrets. The total value of a vehicle in North America must be 75% (compared to 62.5%) from one point to the other The new chapter of digital commerce contains the strongest digital trade disciplines of an international agreement and provides a solid basis for the development of trade and investment in innovative products and services for which the United States has a competitive advantage. The United States, Mexico and Canada have reached an agreement to modernize NAFTA, which is 25 years old, into a high-level agreement of the 21st century. The new agreement between the United States and Mexico-Canada (USMCA) will support mutually beneficial trade, which will lead to freer markets, fairer trade and robust economic growth in North America. For the first time in a U.S.

trade agreement, the agreement prohibits local data storage requirements in circumstances where a financial supervisory authority has access to the data it needs to fulfill its regulatory and supervisory mandate. The new “Access to the Market” chapter will more effectively support trade in industrial products between the United States, Mexico and Canada by removing provisions that are no longer relevant, updating key references and confirming commitments under the original agreement. The agreement uses trade rules to obtain higher wages, requiring that 40 to 45 percent of automotive content be made by workers earning at least $16 an hour. New commitments have been introduced in the market access chapter to reflect evolving U.S. trade agreements on non-tariff barriers to trade in recycled products, import licences and export authorizations. The uniform rules contain additional details on the rules of origin and origin of the agreement. UNITED STATES Canada Mexico The “Environment” chapter contains the most comprehensive environmental commitments applicable to a previous U.S. agreement, including commitments to combat trade in wild plants, wood and fish; Strengthen law enforcement networks to curb human trafficking; and address pressing environmental issues, such as air quality and marine waste. For the first time, a trade deal will require that one of President Trump`s main goals in the renegotiation be to ensure that the deal benefits American workers. The United States, Mexico and Canada have approved a laboratory chapter that brings work obligations to the heart of the agreement, makes them fully applicable and is the strongest provisions of any trade agreement.