Mexico Current Affairs - 2020

NAFTA 2.0 comes into effect from 1st July 2020

A new free trade agreement between the United States, Mexico, and Canada comes into effect from 1st July 2020 onwards. It replaced the earlier 26 years old free trade agreement between the three countries- North America Free Trade Agreement (NAFTA). The new free trade agreement has been ratified by all three countries.

All three signatories of the new trade agreement have referred it by different names, United States called it USMCA- the United States Mexico Canada Agreement, while the Canadian Government has referred to as CUSMA, in Mexico by T-MEC.

NAFTA 2.0 is not a wholly new agreement, it is a renegotiated version of the earlier NAFTA agreement with certain changes, hence it has been referred to as NAFTA 2.0.

Background

During the 2016 Presidential Election Campaign, United States President Donald Trump has announced and promised he would renegotiate the NAFTA free trade agreement with Mexico and Canada, and if the renegotiations fail, we would pull out of the NAFTA agreement.

The renegotiations with largely focusing on ‘Steel and Aluminum Tariffs’ between the United States and Canada begin in August 2017. NAFTA 2.0 was signed by the Head of the States of the three countries on the sideline of the 2018 G20 Summit in Argentina. A year later a revised version of the deal was signed on 10th December 2019 before being ratified by the three countries.

India will be UNSC President for August 2021

After securing 184 out of the total 192 votes on 17th June 2020, India became a non-permanent member of the United Nations Security Council (UNSC) for a period of 2 years. India’s term will begin on 1st January 2021. Apart from India, Norway, Kenya, Ireland, and Mexico were also elected for a period of 2 years as non-permanent members.

The post of the presidency of the UN Security Council is rotated among the 15 member states (5 permanent, 10 non-permanent) every month. Based on that, India will have the presidency of the UN Security Council in the month of August 2021 and again for a month in the year 2022.

India was last elected as a non-permanent member of the UN Security Council for the years 2011-2012.

United Nations Security Council

For ensuring peace and security across the world, the United Nations has a total of six principal organs, out of the six, the Security Council is one of the principal organs. The United Nations Security Council was formed in the year 1945.

The Council has a total of 15 member states of which 5 are permanent members (United States, France, China, Russia, and the United Kingdom), this 5 permanent members only have the right to use the power of veto against any resolution.

The remaining 10 non-permanent members are elected among the other member states of the United Nations for a period of 2 years.

As compared to the other principal organs of the United Nations, the UNSC is the only authorized body under the United Nations that can issue a binding resolution on the member states if the members of the Council vote in favor of the resolution.