On September 30, 2018, Canada and the United States announced that they, together with Mexico, agreed to a new trilateral trade agreement, which was signed on November 30, 2018.
The agreement will be referred to differently in each country: Canada-United States-Mexico Agreement (CUSMA) in Canada, United States-Mexico-Canada Agreement (USMCA) in the U.S., and Tratado entre México, Estados Unidos y Canadá (TMEC) in Mexico. Once ratified, the new trade deal will replace the existing trilateral North American Free Trade Agreement.
The agreement is expected to come into force on July 1, 2020, and will affect many industries including oil and gas, automotive, agriculture, textiles and apparel, alcoholic beverages, and many others.
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For further information, please contact a member of our International Trade, Arbitration, Investment Treaty Arbitration, Financial Services Regulatory or Intellectual Property groups.
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