Automotive content rules are top of mind as North America's trading partners spend two days in Cancun taking stock of the last three years under the U.S.-Mexico-Canada Agreement.
International Trade Minister Mary Ng is sitting down with U.S. Trade Representative Katherine Tai and Raquel Buenrostro, Mexico's economy secretary — the"three amigas," as Ng calls them.
"The rules that underpin all of us through this agreement are rules that we all value, and that we all must respect," she said. In a core component such as an engine, the long-standing concept of"roll-up" allows such a part to be considered as having 100 per cent North American origins once the regional threshold of its various elements is met.
"We are engaging with Mexico and Canada on finding a positive solution," said one official, speaking on condition of anonymity under the terms of the call. All three sides will likely be thinking about the agreement's six-year review clause, which requires a comprehensive assessment of the deal by June 2026.
"This agreement, as negotiated, provides both predictability and stability for 16 years, to 2036," she said.
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