Global Summit highlights global forces impacting the aftermarket
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The amount of uncertainty and new paths being forged by the global automotive aftermarket was on full display at the MEMA Aftermarket Suppliers Global Summit last week.
Held at the University of Miami, industry leaders and observers dove into the challenges the aftermarket has overcome, new ones still ahead, opportunities in other parts of the world and a deep dive into renegotiating the USMCA.
Given the reframed global supply chain, presentations included a look at building resilience and taking advantage of new trading partners. Attendees were advised to build multiple partners into their strategy so to not be left behind when one suffers an interruption.
Attendees also learned about how the Latin American market is flush with opportunities. Presentations included specific looks at Mexico and Venezuela, the latter of which examined the country in a post-Maduro world.
Bill Frymoyer, vice president of government affairs at MEMA, examined tariff policies and the renegotiation of the USMCA. He reiterated the importance of a trilateral deal and the necessity of Canada and Mexico being partners with the U.S. He noted that a message his team is trying to deliver in Washington is the importance of having Canada as a key trading partner.
As he spoke, news broke of the Supreme Court calling President Donald Trump’s justification of tariff implementation illegal. Frymoyer later stated that MEMA welcomed the decision but warned the president has other tools at his disposal to reimplement those tariffs. He further added that there are many questions still to be answered, such as refunds, that MEMA will be looking into.
Stay tuned to Auto Service World for more details from the event. Please take a look at the photo gallery and highlight reel.
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