What is USMCA?

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What is USMCA?

Background

On January 1st, 1994, the United States, Canada, and Mexico signed the North American Free Trade Agreement (NAFTA). Tariffs were eliminated progressively and all duties and quantitative restrictions, with the exception of those on a limited number of agricultural products traded with Canada, were eliminated by 2008.

Thanks to it, the economic relationship among the parties increased exponentially. Nowadays, millions in dollars of goods are exchanged at the border divided by the Rio Grande, every minute. In the same vein, in 2018, the US goods and services trade with Mexico totaled an estimated $671.1 billion.

However, after more than 25 years of the agreement, the legal instrument required a thorough update. With the conviction of bringing NAFTA to the reality of the 21st Century, in 2017, a negotiation process began.

After a tough negotiation, the three countries finally reached a new agreement in December of 2019. The new instrument is called the United States-Mexico-Canada Agreement (USMCA).

Considering the numerous changes that the new agreement is bringing to the relation, it is imperative for all those involved directly or indirectly in trade operations in North America region, to get updating their knowledge so they can take advantage of the new legal framework.

 

Objective

The aim of the course is to provide participants with essential and relevant knowledge about the new legal framework under which the bilateral trade will soon be ruled. The training course will cover aspects such as: how is the USMCA different from the NAFTA, where are the opportunities and potential risks, and what elements should be taken into account to fully comply with the new provisions.

  

Who will deliver the course

The course will be delivered by the former chief negotiators of NAFTA and USMCA from the Mexican Embassy who are active partners of Borderless Coverage (www.borderlesscoverage.com) and AGON (www.agon.mx). Apart from participating in it, they have been part of the most relevant trade negotiation processes worldwide, such as CPTPP, Mexico- European Union Trade Agreement, the Pacific Alliance, among others. They also negotiated bilateral investment agreements with countries such as Brazil, Argentina, Haiti, Turkey, Jordan and Costa Rica. Additionally, they have represented Mexico in international fora and organizations such as the Asia-Pacific Economic Cooperation Forum (APEC), the Organization for Economic Cooperation and Development (OECD) and the World Trade Organization (WTO).

 

USMCA Trade Deal Training Structure

The structure of the course is very flexible. Submit your information and our team will determine the best training structure for you and/or your team.

Visit here to learn more about the USMCA Trade Deal.

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