U.S. auto industry faces more uncertainty without extension of USMCA trade deal

The USMCA trade agreement includes rules of origin that specify where products must be manufactured and which goods qualify for preferential tariff treatment. The rules require that a certain percentage of vehicle content originate in North America to receive tariff benefits under the deal. Without an extension or renegotiation of these provisions, automakers face potential changes to their supply chain requirements. The agreement was signed in 2018 and began implementation in 2020.

Next story