Over the years, revolutionary advances in technology, telecommunications and e-commerce have combined to provide a strong rationale for modernizing and improving NAFTA to better reflect the way businesses now engage in international trade.
The United States-Mexico-Canada Agreement (USMCA) or Canada-United States-Mexico (CUSMA), is set to replace the 26-year-old North American Free Trade Agreement (NAFTA) on July 1, 2020, therefore creating a modernized free-trade system between the three countries. This modernized free-trade addresses recent and emerging critical issues, such as:
- Harmonization of regulatory systems, e-commerce and the protection of intellectual property
And provides changes to:
- Various rules and processes which govern how specific goods are traded within North America and;
- Mechanisms for how trade disputes are resolved
We detail all new provisions of the USMCA/CUSMA below.