Delivery services company, FedEx, supports a recently enforced agreement (USMCA) that is reported to benefit US, Mexican and Canadian economies and make them more globally competitive.
USMCA, according to FedEx, replaces the 26-year-old North American Free Trade Agreement (NAFTA), helping to streamline trade across the North American market.
“We applaud the governments of the United States, Mexico and Canada for working together to approve and implement an agreement that simplifies trade for the highly integrated North American supply chains,” said FedEx COO, Raj Subramaniam. “Modernising and expanding global trade through free trade agreements like USMCA breaks down trade barriers, creates new job opportunities and helps our customers reach new markets.”
USMCA reportedly makes North American trade easier and addresses issues including e-commerce and the protection of intellectual property.
This development may reduce shipping costs and simplify clearance.
The agreement is recognised in Mexico as the Tratado entre Mexico, Estados Unidos y Canada (T-MEC) and in Canada as the Canada-United States-Mexico Agreement (CUSMA).