The U.S. Trade Representative recently notified Congress that Canada, Mexico and the United States have taken the necessary measures to comply with their commitments under the United States–Mexico‒Canada Agreement (USMCA), and that the agreement will enter into force on July 1, 2020. As discussed in this Alert, the USMCA, which will replace the North American Free Trade Agreement upon its implementation, will impose a wide range of new requirements. Companies operating in certain sectors of the economy, especially the motor vehicle industry, should strongly consider taking actions to prepare for and comply with these new requirements as soon as possible.
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