As the United States solicits feedback on the U.S.-Mexico-Canada Agreement ahead of the deal’s review next year, manufacturers are mulling how they can minimize their exposure to tariffs. Cross-border trade in North America has already gone through a series of changes, first with the scrapping of the North American Free Trade Agreement for USMCA in 2020, then with 25% tariffs placed on imports from Canada and Mexico earlier this year. A tariff exemption was granted for USMCA-compliant goods, although levies on non-qualifying imports from Canada now face a 35% duty.
News
To move or not to move? Manufacturers hesitant to nearshore before USMCA review
