- Victor Martinez
DECREE THAT REPLACES NAFTA WITH THE USMCA
On June 29th, 2020, the Decree promulgating the Protocol by which the North American Free Trade Agreement is replaced by the US-Mexico-Canada Agreement was published in the Mexican Official Gazette of the Federation.
Among the most relevant changes and additions in this agreement are the following:
The official format of the certificate of origin is eliminated. The certification of origin can be completed by the exporter, producer, or importer.
De Minimis. A good shall be considered as originating if the value of all non-originating materials used in production does not exceed 10%.
Automotive industry. Regional content value will increase to 75% in car production.
A chapter on Digital Commerce was added. This chapter includes the prohibition of imposing customs duties on digital products.
Labor Matters. Panels are established in the modifying protocols, which will serve to verify and sanction possible labor violation.
Creation of multilateral agreements in environmental matters.
This decree will take effect on July 1, 2020.
At Toulet & Gottfried we are committed to keeping you informed regarding to additions and reforms to national and international legislations.
Víctor M. Martínez-Ramos
México: (656) 627.0000 US Direct line: (915) 613.0192