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
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
There have been a few developments in the NAFTA 2.0/USMCA/CUSMA process in the past few weeks.
1. The Government of Mexico published in the July 29, 2019 issue of the Official Gazette a decree that was signed by Mexican President Andrés Manuel López Obrador to complete the final step in the ratification process in Mexico.
Agriculture Secretary Perdue recently stated the trade damages to be addressed in a new round of farm aid is $15 to $20 billion! The general press is replete with stories about how, as these tariffs continue, companies are making sourcing changes that will be hard to reverse. So, what is the latest news?
First, there
On September, 2018, the United States, Canada, and Mexico announced that a new NAFTA was agreed and would be called the United States-Mexico-Canada Agreement (“USMCA”) (also known as NAFTA 2.0). The text of the USMCA was posted on the United States Trade Representative website. LexSage has published an USMCA Resource Guide with USMCA Chapters,
This client alert was originally published on May 30, 2018, and now there is an update. Today, May 31st, President Trump announced a resolution with Argentina, Brazil and Australia regarding the 232 tariffs on steel (25%) and/or aluminum (10%), but as there is no similar agreement with Canada, Mexico or the EU, the tariffs
Anyone who watches “The Big Bang Theory” knows about Schrödinger’s cat. The cat was both thought to be dead and thought to be not dead at the same time. There is a similar paradox for Canadian companies who sell to the United States and/or China. Canadian goods may be thought to be not subject to
Will President Trump terminate NAFTA? Unfortunately, we don’t know. Some days, press reports suggest a growing possibility that he will take steps to terminate the agreement. Other days, President Trump’s pronouncements hint that he may be prepared to further negotiations. This leaves organizations in a difficult position. If President Trump does issue a notification of