Important New Features in the USMCA
Mexico Center, Rice University's Baker Institute for Public Policy (May 5, 2020)
8 Pages Posted: 27 May 2020
Date Written: May 22, 2020
Several of the provisions discussed in this USMCA report could have a very significant impact on the interpretation, application, and longevity of the USMCA in the future. These include restrictions on currency manipulation and on the other Parties' concluding trade agreements with China (both firsts for U.S. trade agreements). Also important are what many believe to be unwise Sunset provisions, a departure from the unlimited term of NAFTA and more recent U.S. free trade agreements. Although the scope of the provisions are somewhat limited, explicit treatment of indigenous peoples rights, insisted on by Canada, is also a welcome addition to regional trade agreement content.
Note: © 2020 Rice University’s Baker Institute for Public Policy.
Keywords: Sunset provisions, Indigenous rights, USMCA, NAFTA, trade with China, currency manipulation
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