By Linda Spencer
|USMCA replaced the North American Free Trade Agreement (NAFTA) effective July 1, 2020. All claims for lower tariff rates for exports to Canada and/or Mexico will need to be made using the new requirements called for under USMCA instead of NAFTA. Pictured here: A Canadian off-road distributor speaks at SEMA headquarters about the export opportunities in Canada during the 2019 Export Fair.|
Products manufactured and sold within North America are eligible for preferential tariff treatment if they meet minimum content requirements as dictated by the new U.S.–Mexico–Canada Agreement (USMCA).
This article answers questions SEMA News has received from SEMA-member companies about the details of the regulations under the new agreement, which took effect July 1, 2020, and the documentation required when exporting your products to Canada and Mexico.
For more information, visit the SEMA News website.