The Canada-U.S.-Mexico Agreement (CUSMA) is at substantive risk unless the three partners are held accountable for continuing to violate aspects of the deal, the head of the U.S. Chamber of Commerce says.
In the U.S., the trade pact is known as the United States–Mexico–Canada Agreement (USMCA). "Like any other agreement, the USMCA isn't worth the paper it's printed on without meaningful compliance and enforcement," Suzanne Clark, the chamber's president and CEO, said Monday at the North American Business Summit in Washington, D.C.
It's been almost three years since the tri-lateral trade pact, which replaced the North American Free Trade Agreement, came into effect. But Clark expressed concern that since it was signed, all three countries are guilty of not complying with parts of the deal.
Canada, for example, hasn't honoured its obligation to enhanced market access that was granted to the U.S. and Mexico for dairy, she said. The U.S. has failed to implement the CUSMA ruling on automotive parts rules of origin, Clark added.
Meanwhile, Mexico has failed to hold up its CUSMA energy obligations, she said.
"And that's just to name a few examples where compliance is falling short."...
This was excerpted from the 15 May 2023 edition of CBC News.