English, News

USMCA, the New NAFTA

1 Oct , 2018  

Late night Sunday, an agreement was reached by the United States and Canada, alongside Mexico, regarding the modernization of the North America Free Trade Agreement, which will now be called the United States-Mexico-Canada Agreement (USMCA).

The USMCA text was published yesterday. You can access the text of this free trade agreement through the following link of the United States Trade Representative website: USTR – USMCA

USMCA is composed of 34 chapters, 12 more than the original NAFTA. VTZ will prepare a working paper about this new deal, which should be available in the upcoming days. Please let us know, through an email, if you would like to receive it.

 

, , , , , , , , , ,

News

VTZ TRADING ROOM- 04/05/2018

4 May , 2018  

This week on the Trading Room:

  • Text of EU – MEX FTA 2.0 Released
  • US Tariffs to Steel and Aluminum
  • ¿30 Days to NAFTA 2.0?

Esta semana en “Trading Room”:

  • TLCUEM 2.0: Texto disponible
  • Aranceles al Acero y Aluminio de EEUU
  • ¿30 Días para TLCAN 2.0?

                                               Trading Room -2018.05.04

, , , , , ,

News

VTZ TRADING ROOM – MAR. 23, 2018

23 Mar , 2018  

This week on the Trading Room: NAFTA (Rules of Origin) and China & United States.

Esta semana en “Trading Room”: TLCAN (Reglas de Origen) y China & Estados Unidos.

Trading Room -2018.03.23

, , , , , , , , ,

English, News

Mexico’s NAFTA Objectives

2 Aug , 2017  

Today, August 2, 2017, the Senate released a document entitled “Notice regarding the Initiation of the Negotiations regarding NAFTA’s modernization” that was provided by the Ministry of Economy. In said document, the Ministry of Economy explained the reasons why it should participate in the renegotiation. We highlight the following statements:

  • Mexico will not accept an increase of tariffs;
  • Mexico is willing to modernize NAFTA with new disciplines of the XXI century;
  • NAFTA should continue being a trilateral agreement;

Furthermore, the Ministry of Economy also published Mexico’s priorities in NAFTA’s negotiation. In harmony with recent statements from the Mexican Minister of Economy, the document does not specify specific objectives. However, it is mentioned that Mexico has the following priorities: 1. Strengthening the competitiveness of the region,  2. An Inclusive and Responsible Regional Trade, 3. Reap the Benefits of the XXI century economy, and 4. Foster Security and Predictability in North American Trade & Investment.

In that sense, if NAFTA is modernized it should create the following benefits:

  • Maintain market access for goods and services without barriers, in particular for agricultural products;
  • Rules of Origins that benefit the region;
  • Trade Facilitation and better customs procedures;
  • Regulatory harmony in Sanitary & Phytosanitary measures;
  • Improve labor integration in the North American Market by increasing the categories of temporal movements of business persons as well as improving time frames, transparency, and procedures for their entry. Also, promote regional cooperation  regarding the development of labor capacities;
  • Strengthening the enforcement of labor laws;
  • Assistance to SMEs and including provisions regarding Gender Equality;
  • Improving NAFTA’s dispute settlements mechanisms, including Chapter 19 (Antidumping), Chapter 11 (Investor-State), and Chapter 20 (State-State);
  • Transparency and Anticorruption disciplines;
  • E-Commerce;
  • Improving market access to financial services for Mexican Investors;
  • Enhancing the North American Development Bank; and,
  • Energy disciplines.
  • Disciplines regarding SOE;
  • Promote competition, improving cooperation between the NAFTA Parties.

In conclusion, the Ministry of Economy stated that the objective is to have an expedite negotiation process and maintain Mexico’s benefits.

, , , , , , , , , , , , , , ,