On January 29, 2020, the President signed the U.S.-Mexico-Canada Agreement (USMCA) into law, initiating a likely long and potentially complicated period of implementation. Prior to the USMCA coming into effect, all three member countries must update their current regulations to mirror the new trade deal and subsequently verify each other’s changes, which may take several months to complete. Canada must also ratify the agreement through its legislature, a process that recently concluded for both Mexico and the United States. In addition, the three countries will undertake the task of drafting rules set to include changes like new labor provisions and rules of origin for automobiles. Following these steps, all parties plan to submit a final notification of approval, and approximately sixty days after this, the USMCA will go into official implementation.
For more information on how these could impact your business, contact:
- Martin Lutz, Partner (firstname.lastname@example.org, 512-495-6024),
- Lindsey Roskopf, Attorney (email@example.com, 713-615-8534), or
- Another member of the McGinnis Lochridge International Trade and Transactions Practice Group