Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The 'New NAFTA' and How It Will Affect Intellectual Property Law
First it was Mexico that agreed to a new trade accord with the United States. Less than one week later, Canada joined the agreement as well. With that, the stage is set for the 24-year-old North American Free Trade Agreement (NAFTA) to end and the U.S. Mexico Canada Agreement (USMCA) to take its place. Once the USMCA is submitted to Congress, a 60-day review period will begin before it can be signed by the president.
Canada's agreement to the USMCA should come as no surprise, as the Office of U.S. Trade Representative reports that, in 2017, goods imported into the United States from Canada totaled $299.3 billion. With such a high reliance on the U.S. market, Canada was under tremendous pressure to “strike a deal.”
Changes to NAFTA
While a large number of NAFTA provisions remain, the USMCA includes several substantial changes. By 2023, 75% of a car will need to be manufactured in North America in order to cross its borders tax free. Also by that year, 40% of car manufacturing labor will need to be paid at least $16 per hour. Canada's dairy industry has been slightly opened, with U.S. farmers now having the ability to reach 3.6% of that tightly protected market. The USMCA terminates after 16 years, but every six years the signatories can agree to a 16-year extension.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.