In response to the United States’ decision to impose tariffs on all Canadian goods, on February 1, 2025, Prime Minister Justin Trudeau announced that Canada would implement a 25% retaliatory tariff on a range of U.S. imports.
UPDATE: However, as of February 3rd, 2025, these governments have reached an agreement that will pause the implementation of tariffs for at least 30 days. You can find the Customs Notice here: https://www.cbsa-asfc.gc.ca/publications/cn-ad/cn25-04-eng.html"
Topics: Free Trade Agreements, Canada, United States, Tariffs
On January 27th, Tradewin published our ‘Reconciliation Step by Step’ guide. For those interested, a copy is available for download below:
Topics: Reconciliation, Free Trade Agreements
It has been two years since the implementation of the United States – Mexico – Canada Free Trade Agreement. For those of you reading this outside of the US, the agreement is referred to in Canada as the Canada – United States – Mexico Agreement (CUSMA); and in Mexico, this agreement is referred to as Tratado entre México, Estados Unidos y Canadá (T-MEC). All three names refer to the same trade agreement.
Topics: Free Trade Agreements, North America
The Regional Comprehensive Economic Partnership (“RCEP”) was signed on 15 November 2020 and entered into force on 1 January 2022 for ten countries: Australia, New Zealand, Brunei Darussalam, Cambodia, China*, Japan, Laos, Singapore, Thailand and Vietnam. It was subsequently entered into force for the Republic of Korea on 1 February 2022 and Malaysia on 18 March 2022, and most recently ratified by Indonesia on 30 August 2022. RCEP is one of the largest free trade agreements (“FTA”), covering around one-third of the world’s population and accounting for about one-third of global GDP.
*Note that Hong Kong, China (“Hong Kong”) is a separate customs territory from the People’s Republic of China (“China”).
Topics: Asia, Free Trade Agreements
India is aggressively working with various countries and economic unions on Free Trade Agreements (FTA). Notwithstanding the benefits, compliance around the utilization has to be robust. We encourage traders to optimize the utilization of FTAs to reduce the duty impact while maintaining proper compliance requirements. If you have any queries on how the latest FTA may impact or benefit your organization, please reach out to our trade compliance consultant professionals at Tradewin India.
Topics: Asia, Free Trade Agreements
