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Trump to Renegotiate USMCA, Focus on Domestic Manufacturing
Trump to Renegotiate USMCA, Focus on Domestic Manufacturing
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BTCCSquare news:
Commerce Secretary Lutnick confirmed President Trump's intent to renegotiate the USMCA trade pact, with a review slated for July 2026. The agreement, which replaced NAFTA, mandates that 75% of vehicle components be produced within the U.S., Mexico, or Canada. Lutnick emphasized Trump's push to relocate auto parts manufacturing to Michigan and Ohio, stating, "He wants to protect American jobs."
The administration has warned 25 trading partners of potential tariff hikes by August 1 if deals aren't reached. Lutnick hailed Trump's trade strategy as historically significant, with the next two weeks poised to reshape U.S. trade dynamics.
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