Washington, Texas (KVEO)—U.S. Customs and Border Protection (CBP) announced Tuesday that it will implement the United States-Mexico-Canada Agreement (USMCA).
The USMCA, which will replace the North American Free Trade Agreement (NAFTA), will be implemented on July 1, according to CBP.
“The USMCA completely replaces NAFTA and marks the beginning of a new era of American prosperity,” said Mark Morgan, CBP Acting Commissioner.
CBP says USMCA will modernize trade among the United States, Canada, and Mexico, introducing updated rules of origin, customs administration and trade facilitation provisions, intellectual property rights protections, and fair labor conditions.
“The USMCA establishes North American trade rules as the new global gold standard and offers CBP new tools to carry out our vital trade facilitation and enforcement mission,” said Brenda Smith, Executive Assistant Commissioner, CBP Office of Trade. “CBP will continue to work closely with the trade community, our U.S. Government partners, and our Mexican and Canadian counterparts to ensure a smooth transition from NAFTA and support the prosperity of the U.S. economy, American workers, and public safety.”
Additional information about the USMCA can be obtained here.