Over the past several months, Global Affairs Canada has been in the process of consultingwith Canadians on the operation of the Canada-United States-Mexico Agreement ("CUSMA" – also known in the US as the "USMCA") ahead of the first joint review of the agreement set to take place in 2026.
As we have previously blogged about here, CUSMA is the current iteration in a history of "free trade" agreements between Canada, the United States and Mexico, and it includes built-in formal six-year joint reviews between its member nations to consider improvements and possible extensions.
The joint review will be the first since the agreement came into force and Canada's consultations with stakeholders are a great opportunity for businesses and industry associations to have their voices heard in regard to their "on-the-ground" views and experiences with CUSMA. Interested persons should be sure to enter their submissions soon as the consultation period ends on October 31, 2024.
Background on CUSMA
CUSMA came into force in July 2020 and, since replacing the North American Free Trade Agreement ("NAFTA"), has driven integration of the North American market, which represents a combined GDP of $42 trillion (and an annual trade worth approximately $1.9 trillion).
CUSMA has maintained the near complete elimination of tariffs between Canada, the United States and Mexico and modernized customs procedures to facilitate trade between the three countries. For Canada, the agreement has achieved stability and predictability with respect to overall market access, as well as key outcomes in the agriculture, energy, and automotive, among other sectors. Despite this, there have been calls for improved compliance and accountability with CUSMA in different industries.
Who should participate?
Global affairs Canada is looking to hear from all interested Canadian stakeholders including:
- the Canadian public;
- provincial, territorial and municipal governments;
- businesses of all sizes, including micro, small and medium-sized enterprises (MSMEs);
- industry associations;
- academics;
- civil society organizations and non-governmental organizations;
- labour unions;
- Indigenous peoples;
- women, 2SLGBTQI+ stakeholders and community groups representing diverse experiences;
- students and youth; and
- other interested Canadian stakeholders.
In addition to guiding preparations for the joint review in 2026, feedback will help inform priorities for Canada's chairing of the fifth CUSMA Free Trade Commission meeting in 2025.
Takeaways
Interested parties are to submit their ideas and comments by October 31, 2024. These can be sent either by email or mail to CUSMA Consultations at the contact information provided here.
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.
