U.S. 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.<\/p>\n
The percentage of goods from Canada classified as USMCA compliant rose to 81% in June, up from 56% in May,\u00a0 according to U.S. Customs and Border Protection data reviewed by Fitch Ratings<\/a>.<\/p>\n Mexican imports that met USMCA criteria in June increased to 77%, compared to 42% the previous month.<\/p>\n Third-party logistics providers report growing inquiries as companies look for ways to navigate higher U.S. tariffs.<\/p>\n \u201cYes, activity is up. We\u2019re seeing more clients ask about USMCA for U.S.\/Canada\/Mexico flows, especially where most-favored nation (MFN) duties are significant or production has shifted to North America,\u201d Bernie Hart, Flexport\u2019s<\/a> vice president of customs, told FreightWaves.<\/p>\n Flexport, founded in 2013 by Ryan Petersen and based in San Francisco, provides global logistics solutions.<\/p>\n \u201cThat said, most still choose the lowest-friction path: if de minimis is available or MFN rates are already 0%\u20132%, many skip USMCA to avoid administrative burdens like supplier data or rules-of-origin calculations,\u201d Hart added.<\/p>\n In 2024, $406.7 billion in imports from Canada and Mexico entered the U.S. under USMCA preferences, led by automotive goods, oil and gas, and machinery. Meanwhile, $509.7 billion in imports from those countries did not claim USMCA benefits.<\/p>\n Fitch Ratings projects that USMCA-compliant imports will reach 89% for Canada and 83% for Mexico in 2025, above previous estimates of 74% and 63%, respectively.<\/p>\n