from the Chicago Fed
Today 14 companies produce vehicles in North America – and all but two of them are headquartered overseas, said Evans. Five of these companies started producing vehicles in the U.S. after NAFTA entered into force in 1994. Nine of them operate production plants in more than one NAFTA country, taking advantage of the fact that North America is in effect a single integrated economic region.
Notably, the substance and tenor of trade policy discussions have been changing of late, observed Evans. U.S. – China trade relations have received the lion’s share of media attention, yet there have also been major developments in the U.S.’s trade relations with other nations, including its two NAFTA partners, Mexico and Canada. A new free trade agreement for North America – the United States – Mexico – Canada Agreement (USMCA) – was negotiated in 2018. Mexico ratified it in June of this year, but at the time of the conference, it was still awaiting ratification by the U.S. and Canada.
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Source
http://app.frbcommunications.org/e/er?s=1064&lid=6834 &elqTrackId=0BBC7741A6DAC989F2F5D78F6FDCAFD8 &elq=153efe52b20846968222a11a8b26655c&elqaid=16297&elqat=1
