Mexico had asked the United States and Canada for a longer transition period for the auto industry to confirm that it is complying with new, stricter North American content rules. 29. To reflect the agreement between the United States and Korea on KORUS` rules of origin, I found that a change in HTS was necessary. WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer said on Friday he had informed Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than originally proposed. The U.S.-Mexico-Mexico Agreement (USMCA) is a trade agreement between these parties. The USMCA replaced the North American Free Trade Agreement (NAFTA). 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 USMCA will extend the duration of copyright in Canada to life over 70 years and 75 years for sound recordings.
 This enlargement reflects the same IP policy that was included in the text of the Trans-Pacific Partnership, paragraph 18.63.  In addition, biotech companies would have at least ten years of exclusivity for agrochemicals (twice as much as at present 5) and the time spent on industrial designs would increase from 10 to 15 years. Compared to NAFTA, the USMCA would require criminal sanctions and civil remedies for both satellite and cable theft, confirms the Doha Declaration on TRIPS and Public Health, contains the strictest procedural and transparency requirements for geographic indicator protection systems in any free trade agreement , requires criminal proceedings and penalties for the registration of copyrighted films in cinemas and requires the Office for the authorization to register customs officers to arrest alleged counterfeit goods.  National procedures for ratifying the agreement in the United States are governed by the legislation of the Trade Promotion Authority, which is also known as the fast track authority. On December 9, 2019, Fox News reported that negotiators from the three countries reached an agreement on implementation, paving the way for a final agreement within 24 hours and ratification by all three parties before the end of the year. Mexico has agreed to impose a minimum wage of $16 per hour for Mexican auto workers by a “neutral” third party. Mexico, which imports all of its aluminum, also objected to the provisions relating to the U.S. steel and aluminum content of automotive components.
 The USMCA is expected to have very little impact on the economy.  An International Monetary Fund (IMF) discussion paper published at the end of March 2019 stated that the agreement would have a “negligible” impact on the general economy.   The IMF study predicted that the USMCA “would have a negative impact on trade in the automotive, textile and clothing sectors, while achieving modest welfare gains, mainly due to improved access to the goods market, with a negligible impact on real GDP.”  The IMF study concluded that the economic benefits of the USMCA would be greatly enhanced if Trump`s trade war ended (i.e., the United States lowering tariffs on imports steel and aluminum from Canada and Mexico and that Canada and Mexico lowering retaliatory duties on imports from the United States)  December 10, 2019 , the three countries have reached a revised USMCA agreement.