Some refer to it as NAFTA 2.0, the 21st century version of the now-antiquated North American Free Trade Agreement. But the new United States-Mexico-Canada Agreement (USMCA) is in many ways different than its predecessor and portends big changes in the global trade compliance space.
Following a year of back-and-forth negotiations, the United States, Mexico, and Canada reached a new trade agreement, published Oct. 1, answering the calls of critics who called the 24-year-old NAFTA archaic. With the new USMCA emerges several new trade compliance obligations addressing such issues as rules of origin, labor standards, certificate of origin documentation, de minimis thresholds, and much more.
