"That bastard Trump! Harumph"
[The Last Refuge] One of the key sectors gaining benefit from the USMCA trade agreement is the auto sector. Rules on steel and aluminum smelting/origination, and rules on part origination from North America are key aspects to the trade agreement that shifts focus from the import of Asian manufactured parts for assembly to manufacturing in North America.
Essentially, seventy-five percent of the component parts for the auto industry must be manufactured in North America. This shift directly puts U.S. auto-workers at the forefront for job gains & stops the process of using manufactured parts from China, Asia or the EU.
The goal of the agreement was/is to make manufacturing investment in North America the main consideration for auto-manufacturers who want access to the U.S. market. Today, as a direct result of future investment considerations, General Motors and Ford unexpectedly surprise 1,500 auto-workers with the announcement their jobs have gone from part-time to full-time status. Great news for these families |