• Foreign Secretary Ebrard said that Mexico's diplomacy of national unity resulted in a successful agreement between the three countries.
  • Undersecretary Seade emphasized that supervision of Mexico’s labor rules was avoided and an egalitarian approach was agreed on for resolving future disputes.

Foreign Secretary Marcelo Ebrard and Undersecretary Seade gave a press conference today in the Foreign Ministry after signing the protocol modifying the United States-Mexico-Canada Agreement (USMCA) to explain the details of the new treaty.

Foreign Secretary Ebrard explained the changes included in the modifying protocol and underscored the success of Mexico's unified strategy that was led by President López Obrador and included his cabinet, the Senate and the private sector.

Undersecretary Seade said that Mexico avoided having inspectors supervise implementation of its labor rules and that any disputes would be resolved symmetrically and equitably by panels drawn from the three countries. The steel quotas established for the region will be implemented over seven years, as introducing them suddenly would hurt Mexican companies.  The North American Development Bank will have more resources in order to increase investment on Mexico's northern border.

The USMCA is a new model for regional trade agreements that strengthens and protects labor rights while reinforcing environmental regulation and improving the mechanisms for dispute resolution. Its approval is the culmination of a successful negotiation that will provide certainty and competitiveness to Mexico's economy, which will result in economic development and well-being for its people.