U.S. Republicans and Democrats have reached an agreement, endorsed by Mexico and Canada, on revised provisions for the United States-Mexico-Canada Agreement (USMCA), the trilateral trade agreement that will replace NAFTA. The pact must still be ratified by all three countries, but the path to approval now appears to be clear.
Reaching the agreement required revisions to the original trade deal, negotiated about a year ago:
A few months ago I published a blog discussing potential impacts of USMCA on location strategy. By way of an update given the events of the last few days:
Finally, the movement on USMCA was timely for this week’s #MidAmericaEDC Competitiveness Conference in Chicago, where I had the pleasure of leading group discussions on the topic of USMCA and its potential impact on site selection.
Two things were clear from our collective touchpoints with companies affected by the USMCA:
Of course, these are just a few components of the complex and variable site selection process.
Tracey Hyatt Bosman develops and executes incentives and location selection strategies for BLS & Co.'s corporate and institutional clients. She is a certified economic developer with twenty years of professional experience across a wide range of sectors, including data centers, manufacturing, headquarters, back office and contact center operations, and logistics.