NEW NAFTA / CUSMA CAME INTO FORCE JULY 1, 2020 — WHAT BUSINESSES NEED TO KNOW
July 14, 2020
NMMA Canada has reported that with the new Canada-United States-Mexico Agreement (CUSMA) that came into force on July 1st, NMMA is reminding members to review the changes that pertain to the recreational boating industry. Members are also encouraged to read NMMA’s fact sheet for a refresh of the main components of the agreement. Please note that NAFTA rules will continue to apply until July 1st, and will continue to apply for goods that entered into commerce on or before June 30th.
Under CUSMA, there are no changes to the rules of origin for recreational marine engines and boats. However, importers will have to provide information in a new format to prove origin of goods and claim preferential tariff treatment. Read More
