It’s time to say goodnight to NAFTA, and hello to CUSMA.
The new Canada-United States-Mexico trade agreement came into effect this summer, changing the rules around a number of different elements of North American trade. But is this a radical revamping of an established agreement, or does it amount to minor changes with minimal impact across the board? The answer may depend on the industry you’re in.
To thrive in the future of work, Canadian companies will need to look beyond their own borders and seize opportunities at home and abroad that can help them grow.
Changes to the current de minimis could lead to greater competition for Canadian e-commerce businesses.
New auto manufacturing stipulations could lead to greater production remaining in Canada – and greater costs for the end consumer.
While CUSMA may not entirely rewrite the rules of Canadian international trade, it does bring new considerations and a refreshed need to understand their impact on cross-border business.