On November 30, 2018, the United States, Canada, and Mexico signed the U.S.-Mexico-Canada Agreement (USMCA) in Argentina.
The USMCA agreement requires 75% of vehicle content be produced in North America, with 40-45% of the content produced by North American workers making at least $16 per hour in wages. Additionally, the USMCA contains chapters on labor reform and protections for intellectual property rights. The administration intends for the USMCA to replace the North American Free Trade Agreement (NAFTA).
Congress must still pass the USMCA before it can be put into effect.
The White House press release may be found here:
