The United States, Mexico and Canada have enjoyed near-complete free trade since the inception of the North American Free Trade Agreement (“NAFTA”) in 1994. In fact, Canada and the US have enjoyed “free trade” even longer than that, since the inception of the first Canada-US Free Trade Agreement in 1989. Unfortunately, free trade amongst the “three amigos” is not guaranteed!
In this blog we explore the mandatory Review and Term Extension Rules in the US-Mexico-Canada Agreement (“USMCA” – also known in Canada as the “CUSMA”), and what it is going to take in order to keep our vibrant North American trade relationship going!