Mexico Institute Experts React to USMCA Implementation
Today, July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) enters into force. Mexico Institute experts react.
Duncan Wood, Director, Mexico Institute:
"The entry into force of the USMCA heralds the beginning of an economic relationship that reflects the realities of the 21st century economy. Though COVID-19 will hold back economic growth in the short-term, the new agreement will facilitate both recovery and international economic competitiveness."
Christopher Wilson, Deputy Director, Mexico Institute:
"The USMCA provides rules to support e-commerce and small business. COVID has forced thousands of companies to create online sales channels in a matter of months. With the right support from the three governments, we could see a boom in SME trade across North America."
Earl Anthony Wayne, Public Policy Fellow & Advisory Board Co-Chair, Mexico Institute; Former U.S. Ambassador to Mexico:
"We are entering a new era in North America, ending the 25 years of NAFTA and building on that foundation for a new era under USMCA/CUSMA/TMEC."
"USMCA's provisions to help small and medium sized enterprises and to facilitate e-commerce can bring big opportunities for small businesses across the continent."
"Given the pandemic's effects, the timing of USMCA can help all three countries to build more resilient, stronger supply chains and to double down on the innovation needed to deal with health and economic challenges all three countries face."
"USMCA allows all three governments to take a broader perspective embodied in the commitment to work on a broad competitiveness agenda: value chains, infrastructure, human talent and more."
"Mexico's commitment to fully implement its labor reforms will reinforce the work to become more competitive globally by helping to strengthen its human talent."
"USMCA should help remind the US, Mexico and Canada that all are stronger when they are working together."
About the Authors
The Mexico Institute seeks to improve understanding, communication, and cooperation between Mexico and the United States by promoting original research, encouraging public discussion, and proposing policy options for enhancing the bilateral relationship. A binational Advisory Board, chaired by Luis Téllez and Earl Anthony Wayne, oversees the work of the Mexico Institute. Read more