On July 1, 2020, with relatively little fanfare, the United States-Mexico-Canada Agreement (“USMCA” or “Agreement”) officially replaced the North American Free Trade Agreement (“NAFTA”) and established the new trading relationship between the three geographic neighbors.
The USMCA, unlike NAFTA, includes a chapter on anticorruption. What does the new chapter provide, and what changes will it bring for companies doing business in the USMCA countries? James Koukios and Ruti Smithline explore both questions in this article and conclude that, given the consistency between the USMCA’s anti-corruption requirements and other international conventions and domestic anti-bribery laws already in place, not much will change for companies in the near future.
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