Lucinda Vargas, associate director of the Center for Border Economic Development at New Mexico State University: “The USMCA is unique among trade agreements in having established a review process. While trade agreements stipulate a time horizon within which their implementation is to take place (15 years in NAFTA’s case), they are intended to last indefinitely. This ensures that an agreement’s new ‘rules of the game’ will remain, thus providing certainty for investors. Indeed, provisions for amending trade agreements and even for withdrawing from them are standard in such treaties, preempting the need for any required review process. The USMCA’s review clause, embedded in the agreement at the behest of the United States, therefore serves more the purpose of bringing the players to the table in a political test of wills on how, and even whether, to…”
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IESA
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