January 24, 2022 Author: Erin Harris, Director of Customer Experience
In 2020, we announced a major change to NAFTA that would involve it being replaced by what we now fondly know as USMCA. It’s been almost two years since this change.
The purpose of USMCA is to increase NAFTA’s efforts to keep manufacturing production in North America rather than competing nations in Europe and Asia, but it affects different industries and business sizes differently.
While the United States, Mexican, or Canadian governments never released an official template, the team at Global Wizard extensively researched the USMCA agreement and worked with the International Compliance Professional Association (ICPA) to develop a template to satisfy the requirements set within USMCA.
Global Wizard automated the USMCA template to generate the document natively so customers seamlessly transitioned from the NAFTA templates to USMCA when the agreement went into effect. These efforts, along with guidance from our favorite international compliance partner, ICPA, have proven to be a valuable resource to our customers.
Since USMCA was released on July 1, 2020, customers using Global Wizard have processed USMCA documents thousands of times. The customers who began using the trade agreement as first-timers were pleased with the ease of implementation into their workflows and the savings and simplicity that is offered.
At Global Wizard, we constantly monitor for updates and changes to USMCA so that we can ensure our USMCA template and workflows are up to date with all requirements. While we haven’t seen anything yet, we know that the USMCA agreement will be revisited for an extension in 2026.
How has USMCA been working for your organization?
Do you need to explore solutions to streamline your USMCA activities to take advantage of everything the program has to offer? Contact us!
If you’d like to simplify your export documentation compliance activities beyond USMCA, we would love to show you our many solutions, from basic export compliance software to integrating your systems into Global Wizard, both of which include restricted parties screening.
We can also tailor solutions customized specifically to your needs. Book a free consultation with us and we’ll show you all the ways we can help streamline operations to save your organization time and money.