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Canadian customs and global trade alert

Published on: Oct 15, 2018

On September 30, 2018, shortly before a midnight deadline, Canada, the United States and Mexico (the Parties) announced the completion of North American Free Trade Agreement (NAFTA) renegotiations. The result is a rebranded deal known as the United States-Mexico-Canada Agreement (USMCA). Notably, the rebranded agreement omits the words “free trade”. Arguably, the term “free trade” would be a misnomer. The agreement provides for government managed trade as well as many other matters including investment, labour mobility and so on. Regardless of the name assigned to the deal, it is clear that the news of the completion of the USMCA was welcomed by many Canadian businesses. The USMCA preserves key elements of the relationship developed between the Parties under NAFTA, develops new rules to deal with modern business issues, and makes changes that will affect every business that imports or exports goods within the trade bloc. Now is the time to prepare for the business opportunities and the regulatory challenges presented by completion of this agreement.

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