July 1, 2020 marks the official date of the new United States, Mexico, Canada agreement (USMCA), which will replace the current NAFTA in place until June 30, 2020. The Office of United States Trade Representative states that this new agreement will support “mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America.” The key areas of improvement include intellectual property, digital trade, de minimis, financial services and environment.
Learn more about the new USMCA agreement here and how to prepare for the changes between the current NAFTA and the new agreement.
For shippers shipping between these countries, USMCA may require new data elements. Odyssey’s experts are ready to assist you with any shipment requirement and changes including customs, receiving the correct duty treatment and certification documents.