Mexico confirms that the T-MEC will enter into force on July 1st

The Mexican government announced Friday the entry into force of the Trade Agreement of Mexico with the United States and Canada (T-MEC) on July 1st and said the agreement will boost economic recovery after the COVID-19 pandemic.

"The upcoming entry into force of the T-MEC will boost the economic recovery of our country and the North American region after the health emergency caused by COVID-19," said the Secretariat of Economy in a statement.

Also, the new agreement "will provide legal certainty for the benefit of the development of our populations," said the Secretariat of Economy of Mexico.

The ministry confirmed the entry into force on July 1 of this agreement that replaces the North American Free Trade Agreement (NAFTA) signed in 1993.

On this day, the U.S. government notified its Congress of the fulfillment of all its internal procedures required for the entry into force of the trade agreement between the three North American countries.

Economía pointed out that the action of the U.S. Government is in addition to the respective notifications made by the Executives of Mexico and Canada.

He explained that paragraph 2 of the protocol that replaces NAFTA establishes the first day of the third month following the last notification received for the entry into force of the agreement, which corresponds to next July 1st.

The Mexican Ministry maintained that it will continue to work closely with the agencies of the Aztec Government, the private sector and its counterparts in the United States and Canada for the effective implementation of the T-MEC.

On November 30, 2018, the presidents of Mexico, Enrique Peña Nieto (2012-2018); the United States, Donald Trump, and Canada, Justin Trudeau, signed the T-MEC after a year of tense negotiations to update NAFTA.

During 2019, the U.S. Democratic opposition blocked the ratification process in the lower house because of distrust in the enforcement of labor standards in Mexico.

On December 10, representatives of the three governments signed in Mexico City the final text that included some demands from the Democrats on labor issues and the origin of steel in the automotive sector.