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U.S. President Signs Law Implementing United States-Mexico-Canada Agreement — Orbitax Tax News & Alerts

On 29 January 2020, U.S. President Donald Trump signed into law H.R. 5430, the United States-Mexico-Canada Agreement Implementation Act, which implements the United States-Mexico-Canada Agreement (USMCA). The agreement was signed on 30 November 2018 to revise and replace the North American Free Trade Agreement (NAFTA) and will enter into force and supersede the NAFTA on the first day of the third month after all parties have notified each other of their ratification.

Mexico ratified the agreement in July 2019, and Canada has begun the ratification process, with the bill for implementing the agreement (Government Bill C-4) currently before the House of Commons.

Click the following link for remarks from President Trump at the signing.