New North American trade deal launches under growing threat of disputes

Business Insider | Jul 1, 2020 at 2:00 AM
  • The revamped trade pact between the United States, Canada and Mexico taking effect on Wednesday was meant to create a kind of fortress North America, boosting the region’s competitiveness – but cracks are already starting to show in the foundation.
  • USMCA will put new compliance burdens on the region’s automotive manufacturers as the coronavirus craters consumer spending and auto production.
  • Within three to five years, vehicles’ minimum North American content rises to 75% from 62.5%.