NAFTAThis week the U.S., Canada and Mexico governments unveiled a new trilateral trade agreement, which, if ratified, will replace NAFTA.

The new agreement, called the U.S.-Mexico-Canada Agreement (USMCA), is a comprehensive update to NAFTA encompassing all sectors of the economy. Rules dealing with agriculture, rules of origin, intellectual property, labor, government procurement, digital trade, financial services and customs are just some areas which have been updated in the agreement.

While Canada and Mexico are expected to ratify the agreement by the end of the year, the U.S. Congress will not be voting on the agreement until early-to mid- 2019. AEM is conducting a thorough analysis of the agreement and is asking member companies to provide input on how changes to the agreement could affect your business. AEM is particularly interested in learning how the proposed changes to the rules of origin chapter could impact North American supply chains.

To see the text of the agreement, please visit https://ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement/united-states-mexico.

The Office of the U.S. Trade Representative (USTR) has provided the following fact sheets on a couple of key changes impacting the equipment manufacturing industry:

Agriculture: Market Access and Dairy Outcomes

Rebalancing Trade to Support Manufacturing

Strengthening North American Trade in Agriculture

To obtain additional information or provide comment, please contact AEM Director of International and Regulatory Affairs Alex Russ at aruss@aem.org, (tel: 202 898- 9006).

 Subscribe to the AEM Industry Advisor for more AEM news and updates.

×