MEMA Memo on USMCA
U.S.-Mexico-Canada Agreement (USMCA)
Before midnight on September 30, 2018, Canada joined the U.S. and Mexico to form the “U.S.-Mexico-Canada Agreement” (USMCA), designed to replace the current NAFTA. MEMA issued a statement (click here). The agreement has 34 chapters and over 1,700 pages of text – all posted on the USTR’s website (click here). Below is a high-level summary of the main outcomes of interest to the vehicle industry, but the main focus is on Chapter 4 “Rules of Origin” and the Auto Sector Specific side letters on standards and on possible Sec. 232 autos/auto parts tariffs.
CLICK HERE to view the MEMA Summary PDF