The Motor & Equipment Manufacturers Association (MEMA) released the following statement regarding the NAFTA announcement yesterday:

MEMA has been a leading voice in Washington and around the country advocating for a positive renegotiation of the North American Free Trade Agreement (NAFTA). While we appreciate the progress made by the Trump Administration and the Mexican government, we encourage a renewed focus on a three-party agreement that includes Canada.

Furthermore, at the close of the negotiations between Mexico and the United States, the parties agreed to a potential cap of Mexican motor vehicle parts exports into the U.S. MEMA is concerned that this may serve to decrease American manufacturing jobs and exports and put U.S. businesses at a global disadvantage — all while increasing costs to consumers. We are anxious to review the specific requirements with our members.

For more information, visit the MEMA Trade Resources Page.