On November 30, 2018, Canada, the United States, and Mexico signed the new Canada-United States-Mexico Agreement (CUSMA) / United States-Mexico-Canada Agreement (USMCA) / Tratado entre México, Estados Unidos y Canadá (T-MEC).
The new agreement will replace the current NAFTA and come into effect on July 1, 2020.
CUSMA will maintain the tariff-free market access from NAFTA, and includes updates and new chapters to address modern-day trade challenges and opportunities. The new agreement may require additional information from shippers to ensure proper customs clearance and duty treatment.
There is no official certificate of origin for CUSMA, as there was for NAFTA. CUSMA requires a “certification of origin.” Any format is acceptable, provided it contains the following nine minimum data elements as set out in CUSMA Annex 5-A:
CUSMA terms will remain in effect for 16 years, at which time the parties may revisit and/or renegotiate terms, or withdraw from the agreement.
Copyright terms are extended from 50 years to 70 years after an author’s death. In Canada, there is a 2.5 years transition period of copyright protection.