• RATIFICATION: Just two days after its signature by the three countries, Mexico’s Senate ratified the protocol of amendments to the new US, Mexico, Canada trade agreement (USMCA) which includes a fast-response panels to scrutinize union elections and collective labor agreements in Mexico.
• PANELS: “We did not accept the rude intervention of inspectors from other countries in Mexican companies. Instead, (The Government) achieved the establishment of dispute resolution panels in equal circumstances”, said Mexico’s Senate leader, Ricardo Monreal, from the Morena Party.
• PATH AHEAD: Like with the original USMCA ratified in June, the Mexican Senate was ahead of its legislative counterparts in the US and Canada. A key factor in reducing uncertainty in the Mexican economy, President Andrés Manuel López Obrador urged a quick ratification process.
• WARNING: “We need to always be careful and vigilant, especially with the fast-response (panels), so that they are not used abusively and with the intention of some sector that intends to inhibit (Mexican) exports (to the US)”, said Lorenzo Roel from COPARMEX, a private sector organization.
