On September 30, 2018, Canada and the United States announced that they, together with Mexico, agreed to a new trilateral trade agreement, which was signed on November 30, 2018.
The agreement will be referred to differently in each country: Canada-United States-Mexico Agreement (CUSMA) in Canada, United States-Mexico-Canada Agreement (USMCA) in the U.S., and Tratado entre México, Estados Unidos y Canadá (TMEC) in Mexico. Once ratified, the new trade deal will replace the existing trilateral North American Free Trade Agreement.
The agreement is expected to come into force on January 1, 2020, and will affect many industries including oil and gas, automotive, agriculture, textiles and apparel, alcoholic beverages, and many others.
Please see the following related articles:
- The Ins and Outs of Canada's New Trade Agreement and NAFTA Replacement, the USMCA
- USMCA Eliminates Investor-State Arbitration for Canada – What It Means for Investors
- USMCA to Remove "in Canada" Record-Keeping Requirements for Financial Institution Sectors
- Demystified: USMCA's Digital Trade Provisions on ISP Liability in Canada
For permission to reprint articles, please contact the Blakes Marketing Department.
© 2018 Blake, Cassels & Graydon LLP.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.