Meredith Crowley, an international trade economist at the University of Cambridge, said the dairy agreement was a “cosmetic concession,” so Canada had performed well in some sense. On June 1, 2020, the USTR Office issued the uniform rules which are the last hurdle before the implementation of the agreement on July 1, 2020. The agreement has 34 chapters and regulates more than $1 billion ($767 billion) in trade. A series of government studies have drawn increasing attention to the possibility of bilateral free trade negotiations: Look Outward (1975) by the Economic Council of Canada; several reports of the Senate Standing Committee on Foreign Affairs (1975, 1978 and 1982); and the 1985 Macdonald Commission report (formally the Royal Commission for Economic Union and Development Prospects for Canada), chaired by former Liberal politician Donald Stovel Macdonald. Macdonald said that “Canadians should be prepared to leap faith” and pursue more open trade with the United States. Although Macdonald was a former Liberal finance minister, the Commission`s results were adopted by Prime Minister Brian Mulroney`s Progressive Conservative Party, although they voted against a free trade initiative during the 1984 Canadian election campaign. The milestones for the start of free trade negotiations have been laid.  U.S. President Ronald Reagan welcomed the Canadian initiative and the U.S. Congress gave the President the power to sign a free trade agreement with Canada, which was to be submitted to Congress for consideration by October 5, 1987. In May 1986, Canadian and U.S. negotiators began developing a trade agreement.
The Canadian team was led by former Deputy Finance Minister Simon Reisman and Peter O. Murphy, former U.S. Deputy Trade Representative in Geneva. The CUSMA results, signed on the sidelines of the G20 of Heads of State and Government in Buenos Aires in November 2018, preserve key elements of long-term trade relations and contain new and updated provisions to address 21st century trade issues and foster opportunities for the nearly half a billion people who call North America at home. The USMCA is expected to have a very small impact on the economy.  An International Monetary Fund (IMF) discussion paper published at the end of March 2019 stated that the agreement would have a “negligible” impact on the general economy.   The IMF study predicted that the USMCA “would have a negative impact on trade in the automotive, textile and clothing sectors, while achieving modest welfare gains, mainly due to improved access to the goods market, with a negligible impact on real GDP.”  The IMF study concluded that the economic benefits of the USMCA would be greatly enhanced if Trump`s trade war ended (i.e., the United States lowering tariffs on imports steel and aluminum from Canada and Mexico and that Canada and Mexico lower retaliatory duties on imports from the United States)  with a 16-year forfeiture clause. The contract may be renewed for a period of 16 years during the six-year review period.
 The introduction of the Sunset clause gives more control in the organization of the future of the USMCA in the hands of national governments.