The USMCA includes many innovative provisions designed to incentivize new U.S. investments in the automotive sector, to promote additional purchases of U.S.-produced auto parts, to advance U.S. leadership in automotive R&D, to support additional high-paying U.S. jobs in the automotive sector, and to encourage automakers and suppliers to locate future production of electric and autonomous vehicles in the United States.
from NAFTA Covering Trade in Autos and Auto Parts
NAFTA’s automotive rules of origin are outdated, permit ‘free riding’ by countries outside of North America, and have discouraged auto manufacturing and investment in the United States. The USMCA includes upgraded rules of origin for automobiles and automotive parts that promote reshoring of vehicle and parts production and incentivize new investments in the U.S. automotive sector.
Increased Regional Value Content (RVC) requirements;
New requirements for vehicle producers’ procurement of North American sourced steel and aluminum;
Eliminates loopholes that undermine RVC thresholds;
Introduces a first-of-its-kind Labor Value Content (LVC) rule;
Reduces the administrative burden on vehicle and parts producers.
Electric cars have revolutionized
the automotive industry by
offering a greener and more
sustainable alternative to
traditional gasoline-powered
vehicles.
As the demand for electric
vehicles (EVs) continues to
grow, so does the availability
of electric car rental services.
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