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So the U.S. and Mexico agreed to some things today to update #NAFTA. I've looked through the documents posted on the USTR site, and here are some highlights:
#RoO, everyone's favorite subject. NAFTA RoO for autos require 62.5% North American content. This has been increased to 75%, which is a significant change. Previous rumors of a 70% content requirement are thus finally disproved.
The U.S. & Mexico also agreed that 40-45% of auto content is to be made by workers earning $16 per hour. That's probably 40% for light trucks, & 45% for pickup trucks. This is all targeted at Mexico. Even if part of this % can come from R&D, this favors the U.S. and Canada.
