Thread by @ACLatAm

STARTING NOW: @ACLatAm's @jmarczak hosts @Antonio_OrtizM, @bakermckenzie's Peter McKay & @sabrod123 for a discussion of the #USMCA's finalization, and what the deal means for #NorthAmerica commerce. Access the dial-in details here ➡️ atlanticcouncil.org/event/rapid-re…

@jmarczak @Antonio_OrtizM @bakermckenzie @sabrod123 @AtlanticCouncil @mfperezcr The #USMCA will bring a long-awaited level of certainty and stability to North American commerce at a time of global trade uncertainty and hyper political polarization, notes @jmarczak #ACMexico.

@jmarczak @Antonio_OrtizM @bakermckenzie @sabrod123 @AtlanticCouncil @mfperezcr What are the next steps in the #US regarding #USMCA ratification? The intention for House Democrats right now is to have a vote as soon as next week, but there are some technical questions of whether or not that's possible, says @sabrod123 #ACMexico

@jmarczak @Antonio_OrtizM @bakermckenzie @sabrod123 @AtlanticCouncil @mfperezcr As long as everything goes according to plan, Wednesday the 18th would be the vote on impeachment and Thursday the 19th would be the vote on the #USMCA, says @sabrod123 #ACMexico.

@jmarczak @Antonio_OrtizM @bakermckenzie @sabrod123 @AtlanticCouncil @mfperezcr However there is a sticking point in that the legislation and technical language regarding the implementation of the deal has yet to come forward, notes @sabrod123 #ACMexico.

@jmarczak @Antonio_OrtizM @bakermckenzie @sabrod123 @AtlanticCouncil @mfperezcr In Mexico we only need the Senate to ratify the agreement, the lower house has no say in the matter, says @Antonio_OrtizM #ACMexico.

We shouldn't be concerned about ratification in Mexico. Though I'm sure that lawmakers in #Canada and #Mexico would like to review the implementation legislation, explains @Antonio_OrtizM #ACMexico.

Indeed, the implementation legislation is important in Canada, too. "The devil is in the details," says @bakermckenzie's Peter McKay #ACMexico.

@bakermckenzie And even though things have changed in #Ottawa since the USMCA was initially announced last year, the Prime Minister of #Canada will likely still have the ability to secure the support of one if not more of the opposition parties, notes Peter McKay #ACMexico.

The overall feeling in #Canada is that Canada made concessions to make the replacement of #NAFTA possible. Though nonetheless, there's a sense of relief with the certainty offered by this week's #USMCA announcement, says Peter McKay #ACMexico.

While I and many others don't agree with the US President that #NAFTA was a "terrible deal," we're still happy to reach this milestone, says @bakermckenzie's Peter McKay #ACMexico.

@bakermckenzie While there are still a few labor unions that have yet to throw their support behind the #USMCA it's important, even historic, for organizations like AFL-CIO to throw their support behind this agreement, says @sabrod123 #ACMexico.

But it's important to remember that for AFL-CIO to have "won," Mexico had to "lose," but the narratives vary on different sides of the border, observes @sabrod123 #ACMexico.

Mexico has a left-of-center government that values labor protections, too. But Mexico still didn't want US inspectors in Mexico, but that will likely be resolved from the new labor inspection stipulations, notes @Antonio_OrtizM #ACMexico.

@Antonio_OrtizM In terms of supply chain, there are really "new rules of the game" in Mexico, says @Antonio_OrtizM. In the future it will be really important for businesses to be cautious and proactive #ACMexico.

In terms of Mexican companies doing business in the US, they are likely going to oppose the investor-state dispute settlement mechanism, says @Antonio_OrtizM #ACMexico.

@Antonio_OrtizM Will the #USMCA improve North American competitiveness? The most important outcome thus far is the lifting of uncertainty on the integrated North America market, and accelerating the return to normalcy, says @bakermckenzie's Peter McKay #ACMexico.

Equally important is the extent to which some of the differences between the #USMCA & #NAFTA (e.g. new rules for cross-border e-commerce) increases the likelihood that the new deal will serve as a template for future trade agreements, conclude @jmarczak & Peter McKay #ACMexico.