Under the leadership of President Donald J. Trump, the United States renegotiated the North American Free Trade Agreement and replaced it with an updated and balanced agreement that works much better for North America, the U.S.-Mexico-Canada Agreement (USMCA), which came into effect on July 1, 2020. The USMCA is a mutually beneficial benefit to workers, farmers, farmers and businesses in North America. The agreement creates more balanced and reciprocal trade that supports high-paying jobs for Americans and cultivates the North American economy. The new chapter of digital commerce contains the strongest digital trade disciplines of an international agreement and provides a solid foundation for the development of trade and investment in innovative products and services for which the United States has a competitive advantage. On May 11, 2018, House Of Representatives spokesman Paul Ryan set May 17 as the deadline for congressional action. This deadline was not met and the agreement with Mexico was not reached until August 27, 2018. [33] At that time, Canada had not approved the agreement. Mexico`s outgoing President Enrique Pea Nieto, having left office on 1 December 2018 and requiring 60 days as a review period, the deadline for making the agreed text available was set at the end of September 2018, 30 September 2018.

Negotiators worked around the clock and reached an agreement less than an hour before midnight on a draft text. The next day, October 1, 2018, the USMCA text was published as an agreed document. An April 2019 Analysis by the International Trade Commission on the likely effects of the USMCA estimated that the agreement would increase U.S. real GDP by 0.35 percent if the agreement were fully implemented (six years after ratification) and would increase total U.S. employment by 0.12% (176,000 jobs). [114] [115] The analysis cited by another Congressional Research Service study showed that the agreement would not have a measurable effect on employment, wages or overall economic growth. [114] In the summer of 2019, Larry Kudlow, Trump`s chief economic adviser (the director of the National Economic Council at Trump White House), made unfounded statements about the likely economic impact of the agreement and overstated forecasts related to jobs and GDP growth. [114] On May 30, U.S. Trade Representative Robert E. Lighthizer presented Congress with a draft statement on the administrative steps needed to implement the U.S.-Mexico-Mexico-new NAFTA agreement, in accordance with the 2015 Presidential Trade Promotion Authority(TPA) Declaration of Administrative Action.