The United States, Mexico and Canada have also agreed on new rules for trade in certain production sectors, including information and communication technologies, pharmaceuticals, medical devices, cosmetics and chemicals. Each of these annexes contains provisions that go beyond NAFTA 1.0 and the TPP and promote better regulatory compatibility, best regulatory practices and stronger trade between countries. How does it differ from NAFTA? And how does this affect your FedEx emissions? Find answers to these and other questions, and find out what you need to do to prepare programs under the new agreement. The full text of the agreement between the United States, Mexico and Canada is available here. The U.S.-Mexico-Canada Agreement (USMCA) replaced the North American Free Trade Agreement (NAFTA) on July 1, 2020. Parties wishing to import duty-free „original products“ into the United States, Mexico and Canada that benefit from the preferential benefits of the USMCA Free Trade Agreement must have a valid certificate of origin at the time of application, which is completed either by the exporter, the manufacturer or the importer. The agreement stipulates that the value of the import does not exceed USD 1,000 or the corresponding amount in the importing party`s currency or a higher amount, as the importing party can see. Although no certificate of origin is required for the above product categories for the right to the USMCA/T-MEC/CUSMA, it is still the importer`s responsibility to maintain all valid evidence of origin in the use of free trade agreements. They must ensure that all products receiving preferential tariff treatment are effectively authorised – the applicability of origin can be requested/demanded by the relevant customs authorities during an inspection. Notification of preferential rates without valid proof of origin on the date of importation may suspend your company from significant retroactive customs duties, interest and penalties. If CUSMA declarations are made in error, importers are required to submit comments (corrections) after customs clearance. The audit trail (records) of the evidence of the origin of trade agreements must be kept for seven years: the year of importation and customs clearance, plus an additional six years.
There is currently no formal certification of the original USMCA, issued by the government or approved by the state. In accordance with the text of the agreement, all certifications must include a series of „minimum data elements.“ The original certification may apply to a single shipment or be a flat-rate certification for several shipments and be valid for up to 12 months. New commitments have been introduced in the market access chapter to reflect evolving U.S. trade agreements on non-tariff barriers to trade in recycled products, import licences and export authorizations. The United States, Mexico and Canada have agreed on stricter rules of origin that exceed those of NAFTA 1.0 and the Trans-Pacific Partnership (TPP), including for cars and auto parts and other industrial products such as chemicals, steel-intensive products, glass and fibreglass. „I confirm that the products described in this document are considered original products and that the information contained in this document is accurate and accurate. I take responsibility for the proof of these statements and agree to maintain and present this certification upon request or make it available during an inspection visit. On July 1, 2020, the U.S.-Mexico-Canada Agreement (USMCA) replaced NAFTA as a free trade agreement between the three countries. Under the USMCA, qualified products exported to Mexico and Canada are exempt from tariffs and quotas. To qualify for this preferential rate, you must determine whether your products are eligible in accordance with the USMCA`s rules of origin.