CARM: What all importers need to know about CARM

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Terminology

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USMCA (United States-Mexico-Canada Agreement)

On July 1, 2020, the new CUSMA/USMCA/T-MEC replaced the existing NAFTA free trade agreement for imports into Canada, USA and Mexico. The one agreement has 3 names – one for each of the participating countries.

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Quick Tip #58
Be prepared for customs penalties and fines under AMPS

Never assume that the absence of an audit means you will never be audited.  Penalties under AMPS (Administrative Monetary Penalty System) can be applied at the border at time of import (or export) and also post audit.

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