United States – Mexico – Canada Trade Agreement

MembersUnited States – Mexico – Canada
Type of agreementMultilateral Free Trade Agreement
Date of SignatureJuly 1, 2020
Current StatusOn-going
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.
Annexe https://www.international.gc.ca/trade-commerce/assets/pdfs/agreements-accords/cusma-aceum/CUSMA-impact-repercussion-en.pdf

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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