Usmca Trade Agreement Fact Sheet

The USMCA Intellectual Property (IP) Chapter offers strong and effective protection and enforcement of intellectual property rights, which are essential to promote innovation, drive economic growth and support U.S. jobs, including the highest standards for protecting the trade secrets of a former U.S. free trade agreement. The USMCA is setting up an Intellectual Property Rights Committee to “address intellectual property issues of particular importance to small and medium-sized enterprises.” The chapter obliges contracting parties to reduce bureaucracy in obtaining the protection of intellectual property rights, including through rigorous application procedures and the provision of online information on trademarks, geographical indications, industrial designs and the protection of plant varieties. This reduces transaction costs, which are often a particular barrier to SME entry. For the first time in a U.S. trade agreement, the agreement prohibits local data storage requirements in circumstances where a financial supervisory authority has access to the data it needs to fulfill its regulatory and supervisory mandate. The U.S.-Mexico-Canada Agreement (USMCA) is a pioneering trade agreement that will maintain and strengthen trade in North America. The United States, Mexico and Canada have agreed on several provisions to reduce the use of trade-distorting measures, including: the adoption of the USMCA by Congress will help manufacturers grow in the United States, compete with the world and support millions of well-paying manufacturing jobs across the country. The United States, Mexico and Canada have reached agreement on a modernized, quality chapter of intellectual property (IP) that provides effective protection and protection and intellectual property rights essential to promoting innovation, economic growth and supporting American jobs. In order to facilitate the marketing of food and agricultural products, Mexico and the United States agreed that the classification of standards and services for all agricultural products would not be discriminatory and would engage in a dialogue to address issues related to classification and quality of trade. The USMCA is particularly important to Pennsylvania`s manufacturing sector, which plays an important role in the state`s economy. The new chapter of digital commerce contains the strongest digital trade disciplines of an international agreement and provides a solid foundation for the development of trade and investment in innovative products and services for which the United States has a competitive advantage.

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