What Is The New Usmca Agreement

What Is The New Usmca Agreement

The system can no longer be used in disputes between the United States and Canada and is limited to disagreements between Mexico and the United States that affect a limited range of industries, including petrochemicals, telecommunications, infrastructure and power generation. In addition to the provisions of the original NAFTA, the USMCA relies heavily on the Trans-Pacific Partnership (TPP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This is aimed at forcing automakers to buy fewer parts for an „Assembled in Mexico“ car in Germany, Japan, South Korea or China. The pact also requires that 70% of a vehicle`s steel and aluminum come from North America, with steel both melted and cast on the continent. .


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