The new U.S.-Mexico-Canada trade deal is not to everyone’s taste. The Aluminium Association of Canada has warned the deal may mean Mexico is “more or less China’s North American backyard to dispose of the products of its overcapacity”. Specifically the new rules for automotive sourcing require steel to be “melted and poured” in North America, but not aluminum. The AAC’s recourse will likely lay in future tariff actions rather than restructuring USMCA once more. Mexican imports of aluminum by the major automakers reached $560 million in the 12 months to Oct. 31, just one-fifth the level o...