Mexico approves T-MEC
Dearest customers and friends,
Past June 19th, 2019, the Republic Senate approved by majority and in an extraordinary session, the Decree to ratify the protocol by which the North American Free Trade Agreement is replaced by the new Free Trade Agreement between Mexico, United States and Canada or better known as T-MEC, which leaves the United States and Canada with the task of doing the same in their legislatures.
In the case of the United States, it has been reported that the T-MEC project would be sent before the end of this month to the US legislators of the Lower House, once received they would have up to two months for their final vote.
With the approval of the Lower House, the agreement would be sent to the House of American Senators so that within a month they can ratify it. This entire process is expected to conclude in September 2019.
In the case of Canada, the process could be shorter, because although Canadian legislators enter into recess from June 21, 2019 to continue their work until October 21 of this year, the truth is that they would seek to convene extraordinary sessions to be approved by Congress before the end of July 2019.
Derived from the above, we recommend reaffirming the knowledge about the chapters of the T-MEC, those that were added as well as those that were eliminated or modified.
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As always, the Partners and Associates are at your service for any questions or comments about the new T-MEC.