With the USMCA officially replacing NAFTA in 2020, the automotive industry has been significantly affected by dramatic rule changes, including an increase in overall value content requirements, introduction of the Labor Value Content (LVC) requirements, and new categories and requirements for automotive parts.
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As one of the industries most substantially impacted by dramatic rule changes when USMCA replaced NAFTA in July 2020, many automotive companies are still working to gain a full understanding of the trade agreement’s new and enhanced requirements.
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