USMCA: Less Free Trade, More Regulations
USMCA: Less Free Trade, More Regulations

Author(s): Marek Wąsiński
Subject(s): Politics, Economic policy, International relations/trade, Security and defense, Health and medicine and law
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: USMCA; free trade; regulations; economic policy; COVID-19;
Summary/Abstract: The Free Trade Agreement between the United States, Mexico and Canada (USMCA) entered into force on 1 July and replaced the previous agreement. The new rules are intended to encourage multinationals to locate production in North America and, above all, in the United States. The COVID-19 pandemic will make implementation of the agreement more difficult in the short term, but will strengthen the benefits of relocating manufacturing plants to the region in the long term. The USMCA also raises issues of employee and environmental protection. This might be beneficial for the EU, which strives to raise these standards in free trade agreements.

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