The new, very detailed report from the U.S. International Trade Commission (ITC) makes it clear that the major manufacturing provisions in the proposed U.S.-Mexico-Canada Agreement (USMCA) have to do with automobiles, and a key aspect of those provisions is steel and aluminum purchasing requirements. But it also might involve other fabricated products that include steel.
The bottom line is that 70 percent of the steel and aluminum used in cars and trucks manufactured in the U.S. would need to come from one of the three countries. The ITC report states: “Many vehicle manufacturers would need to modify their supply chains to fully comply with the new provisions, which would increase the cost of producing vehicles in North America.”...FULL STORY