The United States-Mexico-Canada Agreement (USMCA) took effect on July 1, 2020, replacing the North American Free Trade Agreement (NAFTA) which had been in place since 1994.
The USMCA retains most core NAFTA provisions, but with updates and revisions affecting industries and businesses with varying degrees of severity. Some businesses will notice hardly any differences at all, while others, most notably the automotive sector, will be significantly affected. The new trade agreement also modernizes the North American trade relationship, with new provisions for digital trade and intellectual property, and incentives directed at small/medium-sized businesses.
Join Livingston International and Purolator International for this webinar to gain an understanding of the specifics of the USMCA, and opportunities for U.S. businesses in the Canadian market.
You will learn:
- Specific regulatory and policy implications, including the elements of NAFTA left in place, new USMCA provisions, documentation/compliance procedures and recordkeeping requirements.
- E-commerce/Retail opportunities resulting from a change in Canada’s de minimis threshold value, and relaxed customs requirements for low-value shipments.
- Potential duty savings achieved by rerouting U.S. imports arriving from Asia or Europe.
- Lifting of the “cloud of uncertainty” that hung over the U.S./Canada trade relationship in recent years.
- Revised automotive requirements, intended to boost sales among U.S. parts suppliers.
- Provisions designed specifically to encourage small businesses to engage in cross border trade.