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National & World Ag News Headlines |
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USMCA Ratification Process Continues in Canada
USAgNet - 02/25/2020
Now that the United States-Mexico-Canada-Agreement has been officially approved by the U.S. and Mexico, Canada is the next signatory that needs to do so before final enactment. But the new accord still has a complicated process ahead of it.
After the U.S. Senate approved the USMCA, the last obstacle to its ratification in the U.S. after a lengthy negotiating process, Prime Minister Justin Trudeau reiterated his commitment to getting the agreement, called the Canada-United States-Mexico
Agreement (CUSMA) in Canada, passed during his time in office. The three member countries approved the agreement back in December before their respective ratification processes.
However, Trudeau's Liberal Party lost 20 Parliamentary seats in the October federal elections, though they won enough seats to form a minority government. That means the Liberals must work in collaboration with fellow parties to agree on the North American
Free Trade Agreement (NAFTA) replacement.
This week, the New Democratic Party (NDP) in the Canadian House of Representatives (where CUSMA currently sits with the Standing Committee on International Trade) agreed to work with the Liberals on expediting the passage of Bill C-4, which would
officially put CUSMA into force, in exchange for hashing out new procedures on how Canada negotiates trade deals in the future.
The fully ratified agreement will take effect on the first day of the third month after all three countries' approval.
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