The Canada-United States-Mexico Agreement (CUSMA or USMCA) will introduce new and complex requirements for the automotive industry. Not only will vehicle producers face increased Regional Value Content requirements starting July 1, 2020, but they will be required to meet the following requirements:
- minimum purchase requirements for North American steel and aluminum;
- labour value content requirements
On September 30, 2018, Canada, the United States and Mexico announced the conclusion of the Canada-United States-Mexico Agreement (the “CUSMA” or “USMCA” or “NAFTA 2.0”), a modernized free trade agreement that will replace the existing North American Free Trade Agreement (“NAFTA”). On November 30, 2018, the CUSMA was signed by each