07/01/2020 10:59 AM EDT
Michael R. Pompeo, Secretary of State
Today marks a landmark achievement for the countries of North America to increase manufacturing and investment in our region. On July 1, the United States-Mexico-Canada Agreement (USMCA) came into force, fulfilling President Trump’s promise to modernize and update trade agreements. More than just the modernization of our existing agreement, it is a new engine for growth in the 21st century that will keep North America the most economically competitive region in the world. We thank all sides for their impressive efforts to reach this important moment that will open new opportunities for U.S., Mexican, and Canadian businesses. It will support the growth and integration of intellectual property and creative industries, and it will protect the environment and labor rights for generations to come. As we address the COVID-19 pandemic and the challenges it poses for our economies, the USMCA will help our region to get back on its feet faster and stronger.