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The USMCA and Free Trade Agreements (Concise Hornbook Series)

  • Edition : 3rd ed., 2024
  • Author(s) : Folsom

The USMCA and Free Trade Agreements, 3d examines the origins of free trade agreements (FTAs) and customs unions (CUs) under Article 24 of the GATT. Presidents Trump and Biden have not been enthusiastic about free trade agreements. America’s trade partners and competitors, on the other hand, have enthusiastically secured free trade deals NOT involving the USA. The Comprehensive and Progressive Trans-Pacific Partnership (TPP-11), the Canada-EU FTA (CETA), the Japan-EU FTA, the expanded Mexico-EU FTA, the MERCOSUR-EU FTA, and the China-driven Regional Comprehensive Economic Partnership (RCEP 2020) in Asia provide excellent examples covered in this Concise Hornbook. The completion of BREXIT in 2020 caused the UK to seek and obtain dozens of FTA agreements with EU FTA partners and independently with Australia, New Zealand, the TPP-11, and others. Ultimately President Trump supported by numerous Democrats accepted the re-negotiation of NAFTA, resulting in the United States-Mexico-Canada Agreement (USMCA), which took effect July 1, 2021. Major developments under the USMCA and their impact on business are a central focus of this edition.

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