Dear customers and friends,
On December 10, 2019, the rubric of the modified text of the T-MEC was carried out with representatives from Mexico, Canada and the United States, formalizing the acceptance of its content by the Executive Power of those countries.
At an event held at the National Palace, Chrystia Freeland (Deputy Prime Minister of Canada), Robert Lighthizer (Trade Representative of the United States of America) and Jesus Seade Kuri (Undersecretary for North America for Mexico) signed the Protocol Modifying the T- MEC, achieving commercial understanding between the three countries that will allow progress in its ratification.
The changes proposed in the Modifying Protocol are aimed at establishing mechanisms that verify compliance with the labor reform in Mexico, the elimination of the 10-year protection of biomedicines, as well as the elimination of a stationary tariff for agricultural products, among Main changes.
However, it will be necessary to have the official publication in Mexico of the aforementioned protocol to be able to know in detail the final version of the T-MEC.
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As always, the Partners and Associates remain at your service for any questions or comments on the content of this newsletter.