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last yr.

USMCA at Four Years: Foundation for Growth Amid Unresolved Issues

As the USMCA approaches its fourth anniversary, its success in boosting North American trade is tempered by unresolved dispute resolution challenges and the need for enhanced cooperation.

Overview

  • USMCA, marking its fourth anniversary in 2024, has significantly bolstered North American trade and investment, building on NAFTA's foundation.
  • The agreement faces unresolved issues in dispute resolution processes, impacting its credibility and future effectiveness.
  • USMCA's full potential hinges on enhancing cooperation in areas like SMEs, regulatory practices, and leveraging bilateral and trilateral mechanisms.
  • Digital trade and workforce development are identified as key areas for further cooperation to maintain competitiveness in the global market.
  • The upcoming USMCA review in 2026 is crucial for addressing challenges and capitalizing on the agreement's benefits for the US, Mexico, and Canada.