Tax Alert – What Will Change In The Move From NAFTA To USMCA?

October 2018

On Sept. 30, 2018, Canada agreed to a last-minute deal to replace the existing North American Free Trade Agreement (NAFTA). This new 21st century trade agreement, set for implementation in the year 2020, will bear the name United States-Mexico-Canada Agreement (USMCA) and will maintain tariff-free access to goods as in the original NAFTA. The USMCA still requires signature by all parties involved and ratification by each country’s government. The finalization of USMCA is expected to take several months.