The new trade agreement between the United States, Mexico and Canada (USMCA) will be signed on November 30 during the G20 summit in Buenos Aires, however, the document may be inked by the countries' ministers instead of the heads of state, Mexican Economy Minister Ildefonso Guajardo Villarreal said
MEXICO CITY (Pakistan Point News / Sputnik - 09th November, 2018) The new trade agreement between the United States, Mexico and Canada (USMCA) will be signed on November 30 during the G20 summit in Buenos Aires, however, the document may be inked by the countries' ministers instead of the heads of state, Mexican Economy Minister Ildefonso Guajardo Villarreal said.
"[The agreement will be signed] on November 30, without a doubt. The only place for doing this is Buenos Aires. What has not been agreed on yet, is the presence of the countries' leaders," Guajardo said at a press conference late on Thursday.
According to the economy minister, the deal could be signed at the ministerial level.
Guajardo also stressed that the Democratic Party claiming majority in the lower chamber of the US Congress as a result of Tuesday's midterm elections was unlikely to complicate the process.
"This agreement already contains provisions that can be very interesting for the Democratic Party. The agreement that we will sign takes into account even the scenario in which the Democrats have a majority in Congress," the minister added.
The G20 summit will be held in the Argentine capital between November 30 and December 1.
The new deal was negotiated by the three sides on September 30 to replace the North American Free Trade Agreement (NAFTA), which dates back to 1994. The agreement has to be signed within 60 days after conclusion, which sets the deadline precisely for November 30.
After the deal is signed, the agreement will be submitted to the three countries' parliaments for approval and will subsequently enter into force if ratified by the legislatures.
The USMCA agreement covers such areas as tariffs, automobile industry, the intellectual property rights, labor standards, environment protection and agriculture.
