USMCA made several key regulatory changes as compared to the North American Free Trade Agreement (NAFTA) that affect compliance and liability. Learning to navigate and master these new provisions are the key to complying with the regulations, minimizing liability for non-compliance, and succeeding in global trade.
Customs and Border Protection (CBP) implemented the new rules in phases to allow the trade community time to adjust business practices in order to comply with the new requirements under the USMCA. During the first six months of its implementation, July 1, 2020 to December 31, 2020, CBP will focus on supporting the trade community’s efforts to fully comply with USMCA requirements, including instructional webinars and trade outreach. CBP will allow time for the trade community to achieve full compliance if companies can show good faith effort to comply with the rules.
