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Mexico Becomes First Country to Ratify USMCA.

Tuesday, June 25, 2019

(North American Meat Institute)

Mexico's Senate approved the United States-Mexico-Canada Agreement (USMCA) on June 19, making the country the first to officially ratify the deal. By an overwhelming majority, Mexico's Senate backed the trade agreement, which was negotiated to replace the 25-year-old North American Trade Agreement (NAFTA). There has been little parliamentary opposition in Mexico to facilitate market access to the U.S., as it is by far Mexico's most lucrative export market. The USMCA will only take effect when all three countries notify the others that their internal legal procedures have concluded, according to USMCA's Article 34.5. Legislative procedures are currently underway in the United States and Canada, though the U.S. has not yet scheduled a vote on the agreement. The Meat Institute will continue to push for the swift ratification of the USMCA.

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