T-MEC will be reviewed by the US, Mexico and Canada on May 17 and 18

In order to review and analyze full compliance by the three countries that make up the T-MEC, on May 17 and 18 of the current year they will meet at the ministerial level the members of the Free Trade Commission of the new treaty.

In that sense, the United States trade representative, Katherine Tai, assured that her vision at the forefront of merchandise exchange issues is to use trade policy to promote equitable growth of the three nations and the strengthening of the North American trade bloc.

“We must invest in and commit to the full and successful implementation of the agreement. I will enforce the new standards, fulfill our commitments and use the agreement to ensure that our partners, Canada and Mexico, do as well, “he said during his participation in the annual Washington conference of the Americas.

He said the new business approach that the Joe Biden administration It will guide them through the difficult times that countries are experiencing and will benefit people throughout the hemisphere.

“Doing this job will not be easy. We will have to walk and play chess at the same time. But trade policy is an essential and strategic part of the solution to these enormous challenges. I am willing to work on this ambitious agenda,” he said.

The Undersecretary of Foreign Trade, of the Ministry of Economy, Luz María de la Mora, indicated that one of the issues that will require analysis over the years of implementation of the treaty has to do with the revision of the agreement, since one of the most significant modifications with respect to NAFTA is that the T-MEC is in force 6 years.

Review will be annual

In that sense, he explained that annually the Free Trade Commission will carry out reviews on the implementation of the treaty and that in year 6 there will be a referendum on the results,

“The heads of state must ratify their decision to extend the treaty for another 16 years or define how the treaty will be revised. This is not minor, on the one hand it obliges us to ensure that this treaty is in force and has the expected results, and on the other hand, it introduces a certain level of definition regarding what the future of integration is going to be, “said the last December 25, 2020.

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