“The rules of origin for several industries will change. Revisit eligibility to claim NAFTA or USMCA duty rates in the future and perform a comprehensive rules of origin and regional value content analysis for every product.”
With the United States-Mexico-Canada Agreement (USMCA), don’t expect major shifts in how North American supply chains are managed. Trade among the three countries should be robust, and the outcome should be a win-win-win for all parties involved as global corporations are expected to continue to invest in North America.
Commerce has evolved since NAFTA was created and the trade agreement will reflect the world we live in today, not 25 years ago. This new agreement will provide clarity around the future of North American trade and allow shippers to properly prepare for capital investments and supply chain changes. Some sectors and products—such as automotive, dairy, eggs, and poultry—will likely be impacted more than others.