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FOB is defined in Article 3.1; and VNM is the value of non-originating materials, including materials of undetermined origin, used in the production of a good.", "To meet the <strong>RVC</strong> requirement for certain passenger vehicle parts,402 materials from non-TPP countries used in their production must undergo one or more specified production operations 397 Industry representative, telephone interview by USITC staff, January 28, 2016; industry representative, telephone interview by USITC staff, January 29, 2016.", "The \u2587\u2587\u2587\u2587 for passenger vehicles under TPP would be simpler and easier for passenger vehicle manufacturers to meet than NAFTA \u2587\u2587\u2587\u2587.398 Under the TPP \u2587\u2587\u2587\u2587 for passenger vehicles, no change in tariff classification is required as long as the vehicle has an <strong>RVC</strong> of at least 45 percent using the net cost method or 55 percent using the build-down method.399 Under the TPP \u2587\u2587\u2587\u2587 for vehicle parts, the <strong>RVC</strong> may be calculated using the net cost, build- up,400 or build-down methods.", "The difference in the <strong>RVC</strong> required by TPP compared to NAFTA could lead vehicle producers in Canada or Mexico to source parts from low-cost countries outside of TPP.441 According to Commission estimates, however, U.S. parts exports to NAFTA would increase, likely due to increased demand for parts in those countries due to increased vehicle output.", "The Regional Value Content (<strong>RVC</strong>) shall be calculated as follows: RV= Ex-works Price \u2013VNM / Ex-works price x 100% Where: <strong>RVC</strong> is the regional value content, expressed as a percentage; and VNM is the value of the non-originating materials.", "Union and academic professionals are concerned that the relatively low <strong>RVC</strong> requirement in \u2587\u2587\u2587\u2587 will decrease the U.S. content in vehicles traded in TPP compared to NAFTA, but other industry sources tend to support TPP \u2587\u2587\u2587\u2587.", "Build-down \u201ccalculates the <strong>RVC</strong> by subtracting the value of the non-originating merchandise (VNM) from the adjusted value (AV) of the finished product.", "The comparable <strong>RVC</strong> requirement for passenger vehicle engines is 45 percent.401 The <strong>RVC</strong> requirement for parts and engines under the build-down method is higher, ranging between 45 and 55 percent.", "For parts classified in HS heading 8708, for example, the net cost and build-up <strong>RVC</strong> requirement ranges between 35 and 45 percent.", "Further, those parts that Japanese manufacturers already import from Japan will now count towards the <strong>RVC</strong> necessary to export from Canada or Mexico to the United States, which may impact the level of U.S. inputs used."], "related": [["fp", "FP", "FP"], ["lsi", "LSI", "LSI"], ["pioneer", "Pioneer", "Pioneer"], ["sci", "SCI", "SCI"], ["thc", "THC", "THC"]], "related_snippets": [], "updated": "2025-07-10T04:27:38+00:00"}, "json": true, "cursor": ""}}