Jun 24, 2020
In a recent article for Law.com, Riyaz Dattu, a partner in Osler’s International Trade and Investment Group, looks at the practical aspects of the United States-Mexico-Canada Agreement’s implementation that affect all producers, exporters and importers of goods within the North American region. Riyaz co-authored the article with international trade lawyers, Richard Mojica, a member of U.S.-based Miller & Chevalier’s international practice, and Eduardo Sotelo Cauduro, a partner of Mexico-based Sanchez Devanny’s international trade and customs practice.
Their article, “Five takeaways for corporate counsel on the USMCA,” discusses “what corporate counsel should know in order to discuss the USMCA with trade compliance personnel at their company,” including the “use of the correct rules of origin, new methodology for certification of origin, tapping into government provided resources, needed modifications to internal compliance programs, and getting ready for audits and investigations.”
The USMCA came into effect on July 1, 2020, replacing the North American Free Trade Agreement (NAFTA). As the article reports, failure to comply with the USMCA’s requirements can have severe implications for companies from both financial and reputational perspectives. Also, a poor compliance record can affect the ability to participate in some customs facilitation programs.
If you register to become a Free ALM Digital Reader, you can read the read the full article, “Five takeaways for corporate counsel on the USMCA,” on Law.com.