Canada-United States-Mexico Agreement (CUSMA)
On November 30, 2018, Canada, the United States, and Mexico signed the new Canada-United States-Mexico Agreement (CUSMA). This agreement will modernize the North American Free Trade Agreement (NAFTA) by addressing current trade challenges in key industries, such as agriculture and automotive, and making improvements to better facilitate the free flow of goods between all three countries. Tariff-free access to markets will continue under the new agreement, and new rules and provisions are expected on important issues like intellectual property, labour standards, gender equality, and indigenous peoples’ rights.
Each country is required to ratify the agreement with their respective legislative bodies before it can come into force. Mexico completed their ratification on June 19, 2019; however, the agreement is still pending ratification in Canada and the United States.
CUSMA is expected to be implemented by early 2020 and, if approved by all three countries, will replace NAFTA.
Please note that updates will be provided as more information becomes available.