On August 13, the Ministry of Economy announced the Promulgative Decree of the Protocol that Replaces the North American Free Trade Agreement with the Agreement between the United Mexican States, the United States of America and Canada, made in Buenos Aires on November 30, 2018; of the Protocol Modifying the Treaty between the United Mexican States, the United States of America and Canada, made in Mexico City on December 10, 2019; of six parallel agreements between the Government of the United Mexican States and the Government of the United States of America, which entered into force on July 1, 2020.
That Article 5.16.1 of the Agreement between the United Mexican States, the United States of America and Canada (T-MEC) establishes that the Parties must, for the entry into force of the same Agreement, adopt or maintain through their respective laws or regulations , Uniform Regulations regarding the interpretation, application and administration of Chapters 4 (Rules of Origin), 5 (Origin Procedures), 6 (Textile Goods and Clothing) and 7 (Customs Administration and Trade Facilitation) of the T- MEC, as well as other matters agreed by the Parties.
First of all, the T-MEC establishes that the Parties must, for the entry into force of the same Treaty, adopt or maintain, through their respective laws or regulations, Uniform Regulations regarding the interpretation, application and administration of the four corresponding chapters.
The T-MEC entered into force on July 1, 2020, modernizing and replacing the North American Free Trade Agreement (NAFTA).
Thus, the T-MEC maintains zero tariffs among the three countries that were in force under NAFTA.
This new agreement updates NAFTA in a number of key areas, including expanding the United States’ access to Canada for certain U.S. dairy, poultry and egg products and by establishing some of the most robust and advanced provisions on rights of intellectual property and trade in digital products.
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