|Members||United States – Mexico – Canada|
|Type of agreement||Multilateral Free Trade Agreement|
|Date of Signature||July 1, 2020|
|Key points||1. Dairy and Agriculture: The USMCA will increase the access of U.S. farmers to Canadian milk that will allow up to 3.6% of the Canadian dairy market to be accessed tariff-free by the U.S.|
2. Automobiles: The USMCA stipulates minimum salaries for employees: 40-45% of the work performed on qualifying cars must be done by workers receiving at least $16 (USD) per hour.
3. Tax -free shipping: A buyer in Mexico will be able to get items tax-free worth US$ 50.00. Shipments priced at US$ 117.00 will also be permitted to enter the US free of duty.
For more details, kindly check the link in references.
|1. United States – Mexico – Canada Trade Agreement, accessed November 2020, https://www.cbp.gov/trade/priority-issues/trade-agreements/free-trade-agreements/USMCA|
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