ABSTRACT
The United States (US)–Mexico–Canada free trade agreement entered into force in July 2020. The US International Commission (USITC) recently made an assessment of the likely impact of the US–Mexico–Canada trade agreement (USMCA) on the US economy and industry sectors. The General Agreement on Tariffs and Trade (GATT) was established in 1945 as a provisional agreement pending the creation of an International Trade Organization (ITO). The ITO draft charter, which was the result of trade negotiations at the Havana Conference of 1948, never came into being due to the failure of the US Congress to approve it. Other countries also declined to proceed with the ITO without the participation of the United States. In 1982, the United States initiated a proposal to launch a new round of GATT talks. Significant progress was made toward reducing trade barriers in the areas of agriculture and textiles that had long been resistant to reform.
