Tariff Jitters Spark Jump in USMCA Claims on Mexico, Canada Goods
US businesses are racing to claim United States-Mexico-Canada Agreement (USMCA) exemptions as rising tariffs on steel, aluminum, and other goods push import costs higher.
The percentage of goods from Canada classified as USMCA compliant rose to 81% in June, up from 56% in May, according to U.S. Customs and Border Protection data reviewed by Fitch Ratings.
Mexican imports that met USMCA criteria in June increased to 77%, compared to 42% the previous month.
Third-party logistics providers report growing inquiries as companies look for ways to navigate...
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