Basic guidance on USMCA compliance for the Trade Community

The USMCA or United States Mexico Canada Agreement became active on July 1, 2020. The regulatory and compliance consulting includes modernized customs and procedures that are meant for minimizing administrative burdens on the importers and exporters as well as reflect the main commitments made by Mexico, the United States, and California prop 65 regulations as the 2017 signatories of the Trade Facilitation Agreement carried out by World Trade Organization. To make sure that a trading company is always in compliance with prop 65 regulations, they must be well aware of the regulations and guidelines that are put forth by USMCA.

So let’s have a closer look at some of the things that have been implemented in association with the USMCA and component engineering.

For any kind of goods that have been made in the USA, new tariff codes should be applied for them. The reach and rohs training that were applicable with NAFTA regulations & epr solutions are no longer applicable.

The record-keeping provisions offered by NAFTA and global regulatory compliance services are still going to be applicable. This means that traders are required to keep the records for 6 years from the date of importation.

Importers, producers, and compliant with rohs directive can certify the origin of their goods with the help of an electronic “Certification of Origin” consisting of the minimum data elements.

The duty refunds associated with preferential tariff treatment according to the USMCA are now extended from 1 year under NAFTA regulations to 4 years from the date of accounting for the goods at issue.

The origin advance rulings of NAFTA are now valid for only the NAFTA goods. This means that there is no application of the NAFTA advance rulings and regulations under the USMCA. In case of the goods that are imported under USMCA, the new origin requests for advance ruling have to be submitted.

For a trader to be compliant with the new guidelines and regulations as per the USMCA, it is always a good idea to get in touch with a leading USMCA compliance company that can help in every possible way. A compliance consultant expert that has been operating in this industry for a long time has got the technical knowledge and proficiency to guide their clients at every step of the way and enable them to follow the rules set by these new standards. Since the USMCA guidelines have only been introduced in the middle of the last year, there is still a lot of confusion and uncertainty about how these rules are going to play out for the traders operating in the United States, Mexico, and Canada. This is why it is very important to consult a compliance expert as they can offer proper guidance regarding this regulation.

A professional compliance expert can help in making the transition from NAFTA to USMCA easier for the clients by making the important changes in various phases and steps. They can also help businesses to change the functional aspects of their supply chain so that no issues of non-compliance can ever come up with them.