FedEx Welcomes the U.S.-Mexico-Canada Agreement
July 01 2020 - 9:00AM
Business Wire
USMCA streamlines trade in North America for
FedEx customers.
FedEx Corp. (NYSE: FDX) today recognizes the entry into force of
the U.S.-Mexico-Canada Agreement (USMCA/T-MEC/CUSMA). This
agreement will benefit all three economies and make them more
competitive around the world.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200701005331/en/
FedEx Welcomes the U.S.-Mexico-Canada
Agreement (Photo: Business Wire)
At FedEx, trade is our business, and expanding global trade is
essential to our customers, our workers and our company. USMCA
replaces the twenty-six-year-old North American Free Trade
Agreement (NAFTA), helping to streamline trade across the North
American market, which is of critical importance to FedEx and our
customers.
“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. “Modernizing 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 makes North American trade easier and addresses issues
including e-commerce and the protection of intellectual property.
When it comes to day-to-day shipping for FedEx customers, USMCA
offers several advantages:
- The de minimis, or duty and/or tax exemption threshold agreed
to by the three governments, increases for imports into Canada and
Mexico, potentially reducing overall shipping costs.
- Simplified clearance value limits increase, reducing the amount
of documentation necessary. As a result, volumes of formal
clearance decrease, lowering costs and increasing
efficiencies.
- Quicker clearance for more shipments will result in higher
customer satisfaction.
The agreement is recognized in Mexico as the Tratado entre
Mexico, Estados Unidos y Canada (T-MEC) and in Canada as the
Canada-United States-Mexico Agreement (CUSMA).
For more information about the new agreement rules, new
requirements to certify the origin of the goods, including required
Certification of Origin document options when necessary and new
value thresholds visit fedex.com/usmca.
To learn more about the importance of trade to FedEx, visit
fedex.com/trade.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenue of $69 billion, the company
offers integrated business solutions through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world’s most
admired and trusted employers, FedEx inspires its more than 500,000
team members to remain focused on safety, the highest ethical and
professional standards and the needs of their customers and
communities. To learn more about how FedEx connects people and
possibilities around the world, please visit about.fedex.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200701005331/en/
Isabel Rollison, FedEx Isabel.Rollison@fedex.com
202-336-9274
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