Two “De Minimis” Changes to NAFTA in USMCA Should Benefit Exporters and Importers
NAFTA’s replacement, the USMCA, which went into effect July 1st, makes two major changes in different de minimis allowances that were recognized when NAFTA went into effect in 1994. By de minimis, we mean an item of minimal or insignificant amount, value or impact. The first de minimis benefit involves cross-border shipments of low-value goods…