COVID-19: CUSMA takes hold during the pandemic and is a detour in cross-border trade

Business

Anita Huberman, CEO of the Surrey Board of Trade.

Trade across B.C.’s border is showing signs of bouncing back from historic declines due to the COVID-19 shutdown, even if it remains closed to tourists.

Customs broker Graham Robins of A & A Customs Brokers said shipments in the first week of July have recovered as more businesses have reopened after collapsing by almost 30 per cent in April and May.

“We saw a really fast decline and then sort of a gradual incline back,” Robins said. “We’re close to actually last year in June. So that was nice to see. It was surprising actually, but we don’t know what the future holds.”

In part, the future should be helped by the renegotiated North American Free Trade Agreement, which streamlines some requirements under NAFTA’S old rules, particularly for small business.

Implementation of the deal, the Canada-U.S.-Mexico Agreement (CUSMA) or the U.S.-Mexico-Canada Agreement (USMCA) depending on which side of the border you are on, in the …read more


Source:: Vancouver Sun – Business

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