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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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More than a year after government officials from the United States, Mexico and Canada signed a new trade agreement (see <a href="https://www.trumpandtrade.com/2018/11/united-states-mexico-canada-sign-new-trade-agreement/">Trump and Trade Update of November 30, 2018</a>), and after numerous rounds of negotiations between congressional Democrats and the Office of the U.S. Trade Representative (USTR), it was announced today that the United States-Mexico-Canada Trade Agreement (USMCA) has been finalized. Various labor and environmental provisions of the original text of the agreement had presented major obstacles in the Democratic-controlled House of Representatives. House Ways &amp; Means Committee Chairman Richard Neal, D-Mass., <a href="https://waysandmeans.house.gov/media-center/press-releases/chairman-neal-statement-usmca-agreement" target="_blank" rel="noopener">stated</a>, &ldquo;Today&rsquo;s agreement is the culmination of months of House Democrats&rsquo; work to transform the new NAFTA into a deal that respects the dignity of workers, contains meaningful enforcement provisions, and prioritizes environmental protection and remediation. Our purposeful efforts produced changes to the USMCA that earned the endorsement of the AFL-CIO and will set a new standard for U.S. trade agreements moving forward.&rdquo;
USTR Robert Lighthizer released a <a href="https://ustr.gov/about-us/policy-offices/press-office/press-releases/2019/december/statement-united-states-trade" target="_blank" rel="noopener">brief statement</a>, agreeing that &ldquo;[t]his will be a model for American trade deals going forward.&rdquo; With these revisions, there is now strong bipartisan support for the USMCA in both the House and the Senate. The House is expected to vote and approve the USMCA next week; the Senate vote will not likely occur until early 2020.
While the text of the revised USMCA has not been released, the Ways &amp; Means Committee issued a <a href="https://www.thompsonhinesmartrade.com/wp-content/uploads/sites/783/2019/12/House-Ways-Means-USMCA-Fact-Sheet-December-2019.pdf" target="_blank" rel="noopener">Fact Sheet</a> providing details on the negotiated changes. These revisions cover: (1) enforcement mechanisms and dispute settlement; (2) labor and workers&rsquo; rights rules, including monitoring mechanisms and streamlined enforcement procedures; (3) environmental standards and a commitment to seven multilateral environmental agreements; and (4) the removal of certain provisions regarding prescription drugs and exclusivity as well as addressing the need for balance between competition and incentives for innovation.

core/freeform

SmarTrade

Congressional Democrats Reach Agreement with Trump Administration on USMCA