The automotive industry in North America is undergoing a time of unprecedented change as a result of the COVID-19 pandemic and the United States-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement (NAFTA) effective July 1, 2020. On top of the disruptions caused by the COVID-19 pandemic, the North American auto industry must contend with new rules of origin, labor value content (LVC) mandates, and steel and aluminum content requirements that are set forth in the new USMCA.
A recent webinar by the international business magazine Mexico Now examined how these issues are affecting the Mexican automotive industry in particular. During this webinar, valuable insights were provided by key industry figures. To read the full text of this Alert, which includes our summary of the webinar, please visit the firm website.