Canadian Vehicle Manufacturers’ Association expresses support for CUSMA
December 11, 2019 by Manufacturing AUTOMATION
The Canadian Vehicle Manufacturers’ Association (CVMA) has expressed its support for the revised United States-Mexico-Canada agreement (USMCA, or CUSMA as it’s referred to in Canada), which was signed Dec. 10 in Mexico City by government representatives of all three countries.
CUSMA, replaces the North American Free Trade Agreement (NAFTA) and marks a new era for manufacturing. Chief among the changes: manufacturers will be required to use 75 per cent North American content in their cars. (Read about the other new rules in our CUSMA vs. NAFTA: What you need to know primer.)
“This is a vital trade agreement for Canada, and its domestic automotive manufacturing industry, as it brings greater certainty regarding North American trade rules,” says Mark Nantais, CVMA president, in the statement. “We appreciate the efforts and commitment that has been made by Canada’s negotiating team and will continue to follow the progress being made by each party country and encourage Canada to move forward with its own ratification as quickly as possible.”
Canadian Vehicle Manufacturers’ Association members operate five vehicle assembly plants as well as engine and components plants, and have over 1,300 dealerships.