The “Facilitation of Customs and Trade” chapter will also help reduce bureaucracy and facilitate international trade for SMEs through provisions requiring the online publication of laws, regulations, contact information, customs duties, taxes and other charges; Documentation for customs clearance and troubleshooting procedures. In addition, the chapter contains a broader scope of advanced decisions by customs authorities, as well as provisions requiring the establishment of a computerized database of customs information for the benefit of the trading community and the acceleration of the release of express shipments. Measuring the economic impact of the USMCA is different from anything the ITC should do for other trade agreements, given that the ITC`s typical reports look at new trade agreements, not changes to existing trade agreements. Read the infographic here. The new chapter of digital commerce contains the strongest digital trade disciplines of an international agreement and provides a solid foundation for the development of trade and investment in innovative products and services for which the United States has a competitive advantage. The United States, Mexico and Canada have also agreed on new rules for trade in certain production sectors, including information and communication technologies, pharmaceuticals, medical devices, cosmetics and chemicals. Each of these annexes contains provisions that go beyond NAFTA 1.0 and the TPP and promote better regulatory compatibility, best regulatory practices and stronger trade between countries. The United States, Mexico and Canada have reached an agreement for the good of U.S. farmers, ranchers and agricultural companies. While agriculture has generally developed well under NAFTA, significant improvements to the agreement will allow food and agriculture to trade more equitably and increase exports of U.S.
agricultural products. The agreement between the United States, Mexico and Canada (USMCA) recognizes the fundamental role of small and medium-sized enterprises (SMEs) as drivers of the North American economy. Mexico and Canada are the two main export targets for U.S. SME products. In 2016, 82,000 small and medium-sized enterprises in the United States exported $51.2 billion in goods to Canada and 53,000 small and medium-sized enterprises to the United States exported $76.2 billion worth of goods to Mexico.