U.S. Trade Rep. Robert Lighthizer recently notified Congress that the United States – Mexico – Canada Agreement (USMCA) would enter into force on July 1.
In a statement, he said Canada and Mexico have taken the measures necessary to comply with their commitments under the accord, which replaces the 26-year-old North American Free Trade Agreement (NAFTA). Some industries had been requesting delayed implementation because of the economic difficulties they have sustained during the coronavirus pandemic.
“The crisis and recovery from the COVID-19 pandemic demonstrates that now, more than ever, the United States should strive to increase manufacturing capacity and investment in North America,” Lighthizer said. “The USMCA’s entry into force is a landmark achievement in that effort.”
Extension Offered on Timber Contract Deadlines
The U.S. Department of Agriculture’s Forest Service has offered to extend contract deadlines on certain timber sales, sale of property-stewardship contracts and forest product permits awarded or issued before April 1.
Extending these deadlines supports the timber industry’s long-term viability in markets where conditions have been significantly disrupted, especially in rural, forest-dependent communities. The decision was based on several factors that have affected the U.S. economy and timber market, including the global COVID-19 pandemic.
Individual purchasers of the timber sales contracts may request extensions – up to two years in the lower 48 states and up to three years in Alaska – or continue to work to meet their obligations.
The deadline-extension option also offered relief to businesses that had been scheduled to make timber sales payments on April 15. Without the extension, entities that bought timber sales from the Forest Service might have found themselves in default from late payments.
The Forest Service adopted the procedures to extend contracts in the early 1990s to avert contract defaults, mill closures and residual effects on forest-dependent communities. Most Forest Service timber sale contracts of more than one year contain these provisions. USDA says it has taken many immediate actions to assist farmers, ranchers, producers, rural communities, and rural-based businesses and organizations impacted by the COVID-19 pandemic.
