Plain meaning
The trade agreement between Canada, the United States, and Mexico that replaced NAFTA.
Also called
Canada United States Mexico Agreement
USMCA
Key points
- CUSMA replaced NAFTA for Canada, the United States, and Mexico.
- Preferential tariff treatment depends on whether goods satisfy the agreement's rules of origin.
- The agreement includes rules for goods, services, digital trade, labour, environment, customs, and dispute settlement.
- Periodic review and renegotiation discussions can affect trade-policy and tariff-risk news.
Why it comes up
CUSMA affects tariffs, origin rules, automotive trade, customs administration, dispute settlement, and North American supply chains.