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What is the United States–Mexico–Canada Agreement (USMCA) or (NAFTA 2.0)?
The United States-Mexico-Canada Agreement (USMCA) or (NAFTA 2.0) is a free trade agreement between Canada, Mexico, and the United States of America which entered into force on July 1, 2020. The USMCA replaced the North American Free Trade Agreement (NAFTA), which was signed in 1994 and had been in place since January 1, 1994.
US. President Donald Trump during the 2018 G20 Summit first proposed replacing NAFTA, which he referred to as “the worst trade deal ever made.” The fundamental goal of adopting the USMCA was to produce reciprocal advantages for North American workers, farmers, ranchers, and companies by creating a more balanced trading environment, supporting high-paying employment for Americans, and growing the North American economy.
Between the USMCA and NAFTA, significant modifications have been made to rectify imbalances in important industries affecting all three nations. Some of the more prominent provisions under the USMCA include:
- To qualify for no tariffs, automobile rules of origin (ROO) require that at least 75% of automobile parts be manufactured in North America (Mexico, the U.S., or Canada). Previously, the required portion under NAFTA was 62.5 percent. Moreover, 40% to 45% of vehicle parts must be made by workers earning more than $16 per hour.
- For imports into Canada, the de minimis (duty-free) level has gone up from $20 to $150, while for imports into Mexico, it has gone up from $50 to $100.
- Farmers from the United States will have exclusive access to the Canadian dairy market as a result of changes to Canada’s dairy pricing structure due to which U.S. dairy exports are expected to rise significantly.
Now that the USMCA is in effect, businesses that export their products to Mexico and Canada have more exporting opportunities.
United States–Mexico–Canada Agreement (USMCA) or (NAFTA 2.0) Business Plan:
This new USMCA is pretty much unaltered as compared to NAFTA regarding immigration. Chapter 16, which addresses temporary entrance for qualified professionals and businessmen, is substantially unaltered under the USMCA. The number of times that qualified professionals and businessmen may renew their status in Canada is currently unrestricted.
Under the International Mobility Program, the Canadian government issues USMCA work permits (IMP). USMCA work permit applications may be submitted at a Port of Entry, at a Visa Office, or online since U.S. and Mexican individuals do not need a Temporary Resident Visa to visit Canada.
Business Plan is a significant part of your application because it will help you demonstrate to the government that your business can bring many benefits. To show that the business is more than marginal, the business plan must reflect the investor’s entrepreneurial spirit as well as the beneficial local, regional, or national economic effect.
The contents of a USMCA Business Plan will vary depending on the specifics of the business. However, it’s important to include:
- Executive Summary
- Business Description
- Industry & Market Analysis
- Marketing Plan
- Personnel Plan
- Financial Projections for at least 5 years
USMCA / NAFTA 2.0 Business Plan by OGSCapital Professional Business Plan Writers:
At OGSCapital, we know that a USMCA business plan can be an important part of your overall business strategy. That’s why we offer professional help in preparing yours. Our team of experienced professionals can provide you with a tailored USMCA Business Plan that considers the specific needs of your company. We’ll work with you to develop realistic projections and financial forecasts, so you can make informed decisions about future growth and investment.
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We’ve been working in the business planning, writing and consulting industry for over 16 years where we’ve helped over 5,000 clients worldwide, attracting over $2.7 billion in financing via our business plans. That means we have experience handling every type of business plan – from small businesses to international conglomerates.
We have a team of professional immigration consultant business plan writers who understand immigration visa requirements and boast a success rate above 95%. We can help you develop a business plan that meets all of the necessary immigration visa requirements, so your company can move forward with expansion and growth. Contact us today to get started!
FAQ
Are the OGSCapital’s business plans USMCA/NAFTA 2.0 compliant?
Each visa has its own immigration business plan requirements. You can feel confident that the OGSCapital’s immigration consultants will ensure that your business plan is 100% compliant no matter what the requirements may be.
What sections will be included in the OGSCapital’s USMCA/NAFTA 2.0 business plan?
At OGSCapital’s, we prepare all the business plans from scratch, featuring stunningly modern design and full-color tables, graphs, and pie charts. Plus, we modify business plan structures depending on the client’s requirements, but all documents include the following key sections: executive summary, market analysis, business model description, operational strategy, marketing strategy, financial model, etc.
How much does an OGSCapital USMCA/NAFTA 2.0 business plan cost?
OGSCapital offers a reasonable pricing structure for preparing a USMCA business plan. Please contact us for more details.
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.
