The Canada Border Services Agency (“CBSA”) has created a new dedicated Canada-United States-Mexico Agreement (“CUMSA”) web-page on which implementation information will be posted to assist importers and exporters. CUSMA / USMCA / NAFTA 2.0 is scheduled to enter into force on July 1, 2020 and there will be no transition period. This means that importers and exporters must be aware of new developments and must update their compliance processes and systems quickly. The CBSA has indicated that new information will be posted as it becomes available.
So far, the CBSA has posted information on the following changes that importers need to know about:
- Origin procedures
- Self-assessment for preferential tariff treatments
- Advance rulings
- Trade facilitation: De minimis for duties and taxes
- Low-value shipment threshold
- Trade incentives
- Trade remedies
Canada, the United States, and Mexico are currently negotiating the Uniform Regulations. When the North American Free Trade Agreement entered into effect in 1994, it was the Uniform Regulations that contained many of the important details about customs and import procedures.
For more information, please contact Cyndee Todgham Cherniak at 416-307-4168 or at firstname.lastname@example.org. We have posted other articles about CUSMA implementation, such as: