1) U.S., Mexican, and Canadian governments signed an updated United States-Mexico-Canada Agreement (“USMCA”) in Mexico City. The Digital Trade Agreement is the foundation for all the US trade deals, Japan and China. Deals soon to come from India, UK, Russia, and others. 
2) The FINANCIAL SERVICES chapter which is chapter 17 BTW!
Chapter Q? Can't make this up.
This will be groundbreaking for trade including cross border payments and financial services. No names used but "require a Party to permit a cross-border financial service supplier" 17.5
Chapter Q? Can't make this up.
This will be groundbreaking for trade including cross border payments and financial services. No names used but "require a Party to permit a cross-border financial service supplier" 17.5
3) Article 17.7 New Financial Services
"Each Party shall permit a financial institution of another Party to supply a new financial service that the Party would permit its own financial institutions, in like circumstances, to supply without adopting a law or modifying..."
"Each Party shall permit a financial institution of another Party to supply a new financial service that the Party would permit its own financial institutions, in like circumstances, to supply without adopting a law or modifying..."
4) 17.15
"each Party shall grant financial institutions of another Party established in its territory access to payment and clearing systems operated by public entities, and to official funding and refinancing facilities available in the normal course of ordinary business."
"each Party shall grant financial institutions of another Party established in its territory access to payment and clearing systems operated by public entities, and to official funding and refinancing facilities available in the normal course of ordinary business."
5) Polysign? "Custodial services are included in the scope of the commitment made by the United States under this Annex only with respect to investments for which the primary market is outside the territory of the Party."
6) AUTHORITIES RESPONSIBLE FOR FINANCIAL SERVICES
1. Canada, the Department of Finance of Canada
2. Mexico, the Ministry of Finance and Public Credit
2. United States, the Department of the Treasury
1. Canada, the Department of Finance of Canada
2. Mexico, the Ministry of Finance and Public Credit
2. United States, the Department of the Treasury
7) So many things to read. The buzzwords are not in the agreement. So reading between the lines is required.
8) Enjoy. usmca.com/financial-serv…
9) The US & Japan Deal... "The Digital Trade Agreement includes many provisions similar to those included in the USMCA Digital Trade Chapter." ustrademonitor.com/2019/10/u-s-ja…
10) Digital Trade Section is also good. Chapter 19
usmca.com/digital-trade-…
19.4 "cooperate and maintain a dialogue on the promotion and development of mechanisms, including the APEC Cross-Border Privacy Rules, that further global interoperability of privacy regimes;"
usmca.com/digital-trade-…
19.4 "cooperate and maintain a dialogue on the promotion and development of mechanisms, including the APEC Cross-Border Privacy Rules, that further global interoperability of privacy regimes;"
11) If a switch flips, would it be safe to guess only Countries with trade deals with US have the green light to using the cross boarder payment system? Look at the rules, specific & required. Once a few heavy weights are signed, would not more countries rush to their own deal?
