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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.

Regards,


Víctor M. Martínez-Ramos

www.toulet-gottfried.com

México: (656) 627.0000 US Direct line: (915) 613.0192


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