The U.S. Grain Council (USGC) welcomed the latest signatories to the new trade agreement. 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. In addition to the original NAFTA provisions, the USMCA borrows significant credits under the Trans-Pacific Partnership (TPP) trade agreements and the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP). On April 3, 2020, Mexico announced its willingness to implement the agreement and joined Canada.  The agreement came into force on July 1, 2020.     Under the leadership of President Donald J. Trump, the United States renegotiated the North American Free Trade Agreement and replaced it with an updated and rebalanced agreement, which works much better for North America, the U.S.-Mexico-Canada Agreement (USMCA), which came into effect on July 1, 2020.
The USMCA is a mutually beneficial benefit to workers, farmers, farmers and businesses in North America. The agreement creates more balanced and reciprocal trade that supports high-paying jobs for Americans and cultivates the North American economy. The United States, Mexico and Canada concluded negotiations in September 2018 for a new trade agreement to replace the North American Free Trade Agreement (NAFTA) and on January 29, U.S. President Donald Trump signed the new trade agreement. On June 1, 2020, the USTR Office issued the uniform rules which are the last hurdle before the implementation of the agreement on July 1, 2020. The Trump administration`s office proposed the USMCA citing new measures for digital commerce, strengthening the protection of trade secrets and adapting the rules of origin of automobiles among the benefits of the trade agreement.  Canada announced Thursday evening in the United States and Mexico that it had completed its ratification process and was now ready to implement the measures of the revised North American trade agreement. To facilitate the strengthening of cross-border trade, the United States has reached an agreement with Mexico and Canada to increase the value of de minimis delivery. For the first time in decades, Canada will increase its de minimis level from $20 ($15.38) to $40 ($30.77) for taxes. Canada will also offer duty-free shipments of up to 150 $US ($115.38). Mexico will continue to provide $50 de minimis exemptions and will also offer duty-free shipments of up to $117.
Shipping rates to this level would be achieved with minimum formal entry procedures, which would allow more businesses, particularly small and medium-sized enterprises, to be part of cross-border trade. Canada will also allow the importer to pay taxes 90 days after the importer enters. The full text of the agreement between the United States, Mexico and Canada is available here. On April 3, 2020, Canada informed the United States and Mexico that it had completed its national process of ratifying the agreement.  Growing objections within Member States to U.S. trade policy and various aspects of the USMCA have had an impact on the signing and ratification process. Mexico said it would not sign the USMCA if tariffs on steel and aluminum were maintained.  According to the results of November 6, 2018 in the United States, speculation has been made.