October 1, 2018
New USMCA NAFTA Deal Reached Key Provisions of the New USMCA At A Glance
The United States, Canada and Mexico have announced they have reached a deal modernizing the North American Free Trade Agreement (NAFTA), now called the United StatesMexico-Canada Agreement (USMCA). In a joint statement issued on September 30, 2018 by from United States Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland, they announced:
“Today, Canada and the United States reached an agreement, alongside Mexico, on a new, modernized trade agreement for the 21st Century: The United States-MexicoCanada Agreement (USMCA). USMCA will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region. It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home. We look forward to further deepening our close economic ties when this new agreement enters into force. We would like to thank Mexican Economy Secretary Ildefonso Guajardo for his close collaboration over the past 13 months�
The USMCA at a Glance
The United States Trade Representative has released fact sheets on the major changes made under the new deal. Please note, this is just a brief overview. It is highly advisable that you consult the agreement text, your legal representatives, and import/export advisors (sources & links below). Here are some of the highlights of the new deal.
CLICK HERE TO READ FULL ARTICLE: Key Provisions for Manufacturers in the New USMCA