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In a January 2021 webinar titled “The USMCA: Six Months On,” Skadden International Litigation and Arbitration partners Julie Bedard, David Herlihy, Timothy G. Nelson and Jennifer Permesly and CFIUS, National Security and International Trade partner Jeffrey Gerrish and counsel Brooks Allen discussed the United States-Mexico-Canada Agreement (USMCA), six months after its signing.
The USMCA and Trade
Mr. Gerrish and Mr. Allen both former officials in the Office of the U.S. Trade Representative who helped draft and negotiate the USMCA kicked off the discussion by explaining the USMCA’s automotive rules of origin, a key update to the North American Free Trade Agreement (NAFTA). The agreement raises the percentage of North American-sourced auto content needed to obtain preferential tariff treatment, raising it for passenger vehicles and light trucks from the NAFTA level of 62.5% to 75% over a three-year period. This