Goodbye NAFTA, Hello USMCA
It’s all systems go for the United States-Mexico-Canada Agreement (USMCA) to take effect now that all three participating countries have taken the final steps necessary to comply with the commitments.
According to the agreement, the USMCA is to enter into force on the first day of the third month subsequent to completion of these final steps.
The USMCA replaces the North American Free Trade Agreement (NAFTA).
Businesses engaged in North American trade should review the USMCA requirements, including the rules of origin, to determine which of their goods qualify.
Businesses not yet engaged in North American trade should review the agreement and look for opportunities that trade between the United States, Canada, and Mexico can offer.