Mexico is the first country to ratify the new free trade agreement for North America.
Vehicles manufacturers and OEM and aftermarket parts suppliers are applauding the ratification yesterday by Mexico of the U.S.-Mexico-Canada Agreement (USMCA) that was negotiated last year to replace the existing North American Free Trade Agreement (NAFTA).
The agreement includes updated rules of origin that require 75 percent of automobile content to be produced in North America.
According to the White House, autoworkers will benefit from rules that incentivize the use of high-wage manufacturing labor in the auto sector including a requirement that 40-45 percent of a
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