USMCA closer to completion: the president of Mexico anticipates February signing

The United States–Mexico–Canada Agreement (USMCA) is closing in. According to statements by Andrés López Obrador, president of Mexico, the USMCA  would finally be endorsed by the United States and Canada, no later than February.

During a meeting with the export and manufacturing factory Maquiladora in Chihuahua, Lopez was optimistic about the agreement. “It is going to be approved in the United States Senate and later in February it will be approved in Canada,” said the politician

Both the United States and Mexico are waiting for Canada’s parliamentary ratification on January 27

The trade agreement, which will govern trade relations between the United States, Mexico and Canada will replace the old Tlcan, which is closer to being signed among the three countries. Last Tuesday the United States Senate gave its green light with 25 votes in favor and 3 votes against.

The new trade agreement will replace the previous North American Free Trade Agreement (NAFTA), operative since 1994

López also took the opportunity to clarify that the USMCA would not take risks of unilateral measures against Mexico, adding that the trade agreement does not establish sanction measures on labor differences between the three countries.