CUSMA/USMCA will come into force on July 1, 2020, at which time increased and more complex Regional Value Content (RVC) requirements for both vehicles and automotive parts will be effective. The RVC for passenger vehicles and lights trucks will increase to 66% on July 1 and for heavy trucks, it will
The Canada-United States-Mexico Agreement (CUSMA or USMCA) will introduce new and complex requirements for the automotive industry. Not only will vehicle producers face increased Regional Value Content requirements starting July 1, 2020, but they will be required to meet the following requirements:
The Canada-United States-Mexico Agreement (CUSMA), also referred to as the United States-Canada-Mexico Agreement (USMCA), comes into effect on July 1, 2020. Are you ready?
The full CUSMA Agreement was signed in November of 2018, and later amended in December 2019. In April of this year each of the three parties notified that they had completed
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
When it was announced that Canada, the United States and Mexico had reached an agreement to amend the North American Free Trade Agreement (“NAFTA”), one of the important changes was an increase to the de minimis threshold, which is the monetary value of courier shipments that can enter Canada without payment of duties and taxes.
We now know the dated that the Canada-United States- Mexico Agreement (CUSMA) (or USMCA under US terminology) will enter into effect to replace the North America Free Trade Agreement (NAFTA): July 1, 2020. This does not mean that the governments are ready to enforce CUSMA – Canada, United States and Mexico must now negotiate and