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ARTICLE · 29 NOVEMBER 2018

USMCA – Impact On Transport

Norton Rose Fulbright Canada LLP
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On September 30, 2018, Canada, Mexico, and the United States agreed to a trilateral trade agreement called the United States-Mexico-Canada Agreement (USMCA)

CanadaGovernment, Public Sector
Alison FitzGerald
Alison FitzGerald
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On September 30, 2018, Canada, Mexico, and the United States agreed to a trilateral trade agreement called the United States-Mexico-Canada Agreement (USMCA), which is set to replace the North American Free Trade Agreement (NAFTA) on January 1, 2020.

Here is a high-level summary of some important changes relevant for the transport sector.

The Good News: Business Facilitation Innovations

Chapter 7 of the USMCA (Customs and Trade Facilitation) contains several innovations likely to reduce administrative delays in cross-border trade and minimize transaction costs. For example, there are new procedures for the expedited release of goods, including provision for the advance submission and processing of electronic documentation prior to a good's arrival at the border, as well as specific rules for the expedited handling of express shipments.

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About Norton Rose Fulbright Canada LLP

Norton Rose Fulbright is a global law firm. We provide the world's preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.

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