USMCA Modernizes the Trade
The new United States-Mexico-Canada Agreement (USMCA) will support mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America. USMCA modernizes the rules for trade in North America with state-of-the-art provisions in the following areas:
Market Access: Maintains tariff-free access to the Mexican market for all U.S. goods exports. For Canada, maintains the current tariff-free access for nearly all U.S. products and eliminates some remaining barriers facing U.S. dairy and poultry exports. Also prohibits import restrictions on remanufactured goods.
Digital Trade: Creates best-in-class rules to foster U.S. growth in the digital economy for firms of
all sectors and sizes, for example, guaranteeing the freedom to move data across borders and prohibiting the forced localization of data, thereby ensuring continued growth for a dynamic area of international commerce.
Intellectual Property: Secures stronger protections for the full range of patents, copyrights and related rights, trademarks, designs, and trade secrets as well as strong enforcement tools to guard against counterfeiting and piracy in order to promote continued U.S. innovation that supports and creates well-paying jobs across all major sectors of the economy.
Agriculture: In addition to securing outstanding market access, establishes modern, science-based sanitary and phytosanitary standards that are the strongest achieved in any trade agreement. Provides transparency and information sharing on measures impacting trade in the products of biotechnology.
Regulatory and Technical Barriers to Trade: Promotes regulatory compatibility and best regulatory practices for ICT products, pharmaceuticals, medical devices, cosmetics, chemicals, and other products, while also improving rules prohibiting discriminatory technical barriers to trade.
Financial Services: Ensures a level playing field for U.S. financial institutions, investors and investments in financial institutions as well as and cross-border trade in financial services on a nondiscriminatory basis.
Customs: Modernizes customs procedures with regard to advanced rulings, simplified entry, risk management, single window, e-signatures, and self-certification of origin.
State-Owned Enterprises: Establishes rules to ensure that central government state-owned enterprises (SOEs) do not distort competition in the marketplace by guaranteeing regulatory impartiality and requiring that SOE decisions be commercially motivated.
Competition Policy: Ensures that antitrust investigations are fair, transparent, and based on sound economic analysis.
Enforcement: Raises the bar with binding enforcement for all chapters, including labor and the environment.