USMCA
The Office of the U.S. Trade Representative announced July 1 that the U.S. has not agreed to renew the U.S.-Mexico-Canada agreement in its current form but that the agreement remains in force.
The USMCA provides for its own termination as of July 1, 2036, unless each party confirms that it wishes to continue the agreement. Because the U.S. has declined to do so, there will now be annual joint reviews until an agreement to extend the USMCA is unanimous or the deal terminates.
USTR said it will continue to engage with Canada and Mexico to address the USMCA’s “shortcomings and our trade deficits with these countries.” To that end the U.S. plans to meet with Mexico the week of July 20 for a third round of bilateral negotiations. The U.S. and Canada have not held any formal negotiations but have reportedly been talking informally for months.
Australia
The U.S. and Australia signed a customs mutual assistance agreement June 25, according to U.S. Customs and Border Protection.
A CBP press release said CMAAs provide the legal framework for the exchange of information and evidence to assist countries in the enforcement of customs laws, including with respect to duty evasion, trafficking, proliferation, money laundering, and terrorism-related activities.
They also serve as foundational documents for subsequent information-sharing arrangements, including mutual recognition arrangements on authorized economic operator programs.
Vietnam
A Vietnam News Agency article reports that the U.S. signed June 25 with Vietnam a memorandum of understanding under which the two sides “plan to share electronic cargo manifest data in real time, or as quickly as possible, to support risk management and detect violations, including trade fraud, counterfeit goods, smuggling, origin fraud and tax evasion.” The article adds that the MOU “is also expected to streamline customs clearance procedures for compliant businesses and reduce inspection-related delays at border checkpoints while improving the competitiveness of exports from both countries.”
Uzbekistan
USTR states that on June 25 the U.S. and Uzbekistan agreed to an early harvest of trade commitments as they continue talks on a bilateral agreement on reciprocal trade and investment.
These commitments include Uzbekistan eliminating or reducing tariffs on a wide range of U.S. industrial goods and agricultural products and the U.S. providing favorable consideration in tariff actions for industrial goods and agricultural products from Uzbekistan. The two sides will also strengthen investment cooperation, explore pathways for promoting and facilitating bilateral investments, and accelerate negotiations toward an ART.
USTR said the commitments will be memorialized “in the coming weeks.”
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