YourSite - Slogan Here!

The United States-Mexico-Canada Agreement (Usmca)

To facilitate the strengthening of cross-border trade, the United States has reached an agreement with Mexico and Canada to increase the value of de minimis delivery. For the first time in decades, Canada will increase its de minimis level from $20 ($15.38) to $40 ($30.77) for taxes. Canada will also offer duty-free shipments of up to 150 $US ($115.38). Mexico will continue to provide $50 de minimis exemptions and will also offer duty-free shipments of up to $117. Shipping rates to this level would be achieved with minimum formal entry procedures, which would allow more businesses, particularly small and medium-sized enterprises, to be part of cross-border trade. Canada will also allow the importer to pay taxes 90 days after the importer enters. On December 10, 2019, the three countries reached a revised USMCA agreement. On January 29, 2020, Deputy Prime Minister and Minister of Intergovernmental Affairs Chrystia Freeland introduced the USMCA C-4 Transposition Act in the House of Commons[93] and passed the first reading without a registered vote. On February 6, the bill passed second reading in the House of Commons by 275 votes to 28, with the Bloc Québécois voting against and all other parties voting in its favour, and it was referred to the Standing Committee on International Trade. [99] [100] [101] On 27 February 2020, the committee voted to send the bill to Parliament for third reading, without amendments. On June 1, 2020, USTR Robert Lighthizer`s office released the uniform rules, which are the final hurdle before the agreement is implemented on July 1, 2020. You`ll find the text of the agreement here: ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement/uniform-regulations The Trump administration office proposed the USMCA citing new digital trade measures, strengthening the protection of trade secrets and adapting the rules of origin of the automobile among the benefits of the trade agreement.

[112] On November 30, 2018, as planned, the USMCA was signed by all three parties at the G20 summit in Buenos Aires. [58] [59] Disputes over labour rights, steel and aluminum prevented ratification of this version of the agreement. [60] [61] Canadian Deputy Prime Minister Chrystia Freeland, U.S. Trade Representative Robert Lightizer, and Mexican Under-Secretary of State for North America Jesus Seade officially signed a revised agreement on December 10, 2019, ratified by the three countries on March 13, 2020. The provisions of the Convention cover a wide range of agricultural products, homelessness, industrial products, working conditions and digital commerce. Among the most important aspects of the agreement are improving U.S. dairy farmers` access to the Canadian market, guidelines for a greater proportion of automobiles produced in the three countries and not imported from other countries, and maintaining the dispute settlement system, which is similar to that contained in NAFTA. [35] [38] We commend the three governments for their cooperation in achieving free and fair trade in a strong regional agreement.

Comments are closed.