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Initial Expiration Date
The date the agreement would expire if not extended during the 2026 review process.
Six-Year Review Deadline
The deadline for all three parties to confirm in writing their desire to extend the agreement.
Compliance Deadline
Section 16(a) reporting obligations officially begin for all non-exempt FPI insiders.
Formal Review Commencement
Mexico and the U.S. begin bilateral talks to assess the agreement's performance.
Exemption Order
SEC issues the order granting relief to directors and officers in specific qualifying jurisdictions.
SEC Implementation
The SEC adopts rule amendments to implement HFIAA reporting requirements.
HFIAA Enacted
Congress passes the Holding Foreign Insiders Accountable Act, removing the long-standing Section 16 exemption for FPIs.
USMCA Entry into Force
The agreement officially replaces NAFTA, introducing new labor and digital trade rules.
The U.S. Securities and Exchange Commission has issued an order exempting directors and officers of Foreign Private Issuers from certain jurisdictions from new Section 16(a) reporting requirements. This relief applies to individuals in jurisdictions with substantially similar insider reporting frameworks, including the UK, Canada, and the European Economic Area.
The United States and Mexico will formally begin talks on March 16, 2026, to conduct the first comprehensive review of the USMCA trade agreement. This mandatory six-year assessment will address critical friction points in labor enforcement, energy policy, and rules of origin for the automotive sector.
US Trade Representative Jamieson Greer confirmed President Trump will sign a supplemental proclamation raising tariffs to 15% selectively to ensure trade continuity. The move signals a tightening of trade enforcement, specifically targeting perceived gaps in the USMCA and existing agreements with the UK and EU.