USMCA | Everything You Need To Know About NAFTA 2.0 - Part 1
If you are just joining us, this is the first of a 4-part continuation on the previous 4-part series on the long awaited NAFTA 2.0 agreement between US - Canada - Mexico due to be implemented on July 1, 2020.
The previous series primarily focused on rules that are the same for all countries, and where different, the information was specific to the rules associated with entries into Canada, under CUSMA. In these next parts moving forward, we will focus on the rules associated with entries into the United States under USMCA.
Before we dive into this USMCA series, below is a quick recap of the earlier topics covered in the CUSMA series.
- What Does This Mean For Importers?
- If A Product Qualified Under NAFTA, It Qualifies Under CUSMA/USMCA/T-MEC Right?
- What Are Rules Of Origin?
- Who Can Complete The Certification Of Origin?
- How Do I Get My CUSMA/USMCA/T-MEC Certifications?
- Do All Imports Require A CUSMA/USMCA/T-MEC Certification Of Origin?
- What If I Can’t Get A CUSMA/USMCA/T-MEC Certification Right Away?
- Is It True That Some Imports Won’t Have Any Duty Or Taxes?
- I Have Advance Rulings Under NAFTA, Can I Still Use Them Under CUSMA/USMCA/T-MEC?
- What If I Import Textiles, How Will I Be Affected?
- How Are Low Value Courier Shipments Affected?
Now, let’s get started.
Aren’t The Rules The Same For Each Country?
It is one agreement but each country has rules that are specific to their country. An example would be value thresholds for De Minimis shipments, low value shipments and time frames for requesting a refund of duties by filing a claim after the entry has been paid.
What Can I Do In Preparation For The Transition To USMCA?
If you are the producer you will need to re-evaluate your products under the USMCA rules of origin (ROO) to ensure they qualify. Once you have re-evaluated your goods you will need to provide us with a USMCA declaration that includes those items that qualify for preferential duty treatment under USMCA. Our Trade Advisory Services can assist you with re-evaluating your goods under USMCA.
How Will USMCA Impact My Day-To-Day Operations?
You still have the option of filing a blanket declaration, which would cover a period of one year, or you can choose to send a single declaration for each shipment.
If you choose the blanket declaration your day to day procedures will not be impacted.
If you choose to file a single declaration for each shipment, you will need to ensure that the USMCA Declaration is provided along with your invoice.
Continue reading on:
How To Fill Out A Certification Of Origin Under The CUSMA/USMCA/T-MEC