UPDATED 2:55 PM PT — Wednesday, July 1, 2020
Mexican President Andrés Manuel López Obrador has praised the USMCA trade deal, which went into effect on Wednesday. He has said he expects the deal with Canada and the U.S. to bring more foreign investment to Mexico.
Obrador also believes it will provide a greater degree of certainty and confidence in the trilateral trading relationship. The USMCA has put new rules in place for points of origin and factory input costs across the three countries to level the playing field for all participants.
According to the Mexican president, the deal will improve the quality of life for millions of Mexicans.
“The agreement provides certainty, even for labor issues,” he stated. “Not any more inspections without complying with the country (Mexico’s) labor law will mistreat workers or force companies to immediately close.”
Obrador will travel to Washington, D.C. next week, where he is expected to meet with President Trump to discuss ways to deepen mutual relations.