Two of the three countries in the USMCA agreement announced last week their intentions to begin talks the week of March 16 ahead of a review of the free trade agreement.
U.S Trade Representative (USTR) Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard announced the first round of bilateral discussions in preparation for the Joint Review of the United States–Mexico–Canada Agreement (USMCA).
According to the USTR press release both ministers have instructed negotiators to begin discussions on the necessary measures to ensure the benefits of the Agreement accrue primarily to the parties, including by reducing dependence on imports from outside the region, strengthening rules of origin and enhancing the security of North American supply chains.
Ministers expect negotiators to hold the first meeting the week of March 16 and meet regularly thereafter as part of the Joint Review.
The USMCA entered into force on July 1, 2020. The USMCA requires the Free Trade Commission, which comprises representatives of governments from all three countries, to meet on the sixth anniversary of entry into force to conduct a joint review of the agreement. That date is July 1. They can evaluate any recommendations for submitted actions and decide on any appropriate responses.
Each governmental party must confirm if it wishes to extend the term of the agreement. Also, if a participating party wishes to make a recommendation for the Commission to take action, it must do so at least one month before the joint review meeting occurs, which would be by June 1.