Canada Publishes Its Interpretation of the CUSMA (USMCA)
On 22 August 2020, the Canadian Statement on Implementation of the Canada-United States-Mexico Agreement was published in the Canada Gazette, Part 1.
The Statement sets out Canada’s interpretation of the CUSMA (which is called the USMCA by the United States and the T-MEC by Mexico). Its objective is to explain the basic rights and obligations in the CUSMA from Canada’s perspective, including how Canada intends to exercise its rights while observing its commitments.
On a chapter-by-chapter basis, the Statement provides a summary of Canada’s interpretation of each provision and outlines how Canada has implemented the Agreement into domestic law. The Statement also sets out additional actions that the Government will undertake to maximize the benefits of the negotiated outcomes of the new Agreement.
Tereposky & DeRose regularly provides advice on the interpretation, application, and implementation of international trade agreements. Should you have any questions regarding the CUSMA or any other trade matter, we are at your disposal.