Key Takeaways from the 2026 NAM North American Manufacturing Conference

The National Association of Manufacturers (NAM) hosted their North American Manufacturing Conference from May 14-15, 2026. The primary focus was the ongoing review of the United States-Mexico-Canada Agreement (USMCA) that framed most of the discussion.

There was broad agreement across policymakers, trade representatives, and company executives that the USMCA has been an effective tool in helping North America compete against global economic powers, especially China. The overall structure of the agreement is working, and the level of integration across North American supply chains continues to increase. While changes are expected as part of the review, the general sentiment was that the agreement will likely be refined rather than replaced — or at least that seemed to be the hope of most presenters. The expected timeline for the review extends into late 2026, which leaves companies operating with a degree of uncertainty in the meantime. These themes point to a few clear takeaways for manufacturers as they navigate the current environment.

Focus on North American Manufacturing

There is continued focus on strengthening the North American manufacturing base. That includes creating jobs, improving cross-border coordination, and reducing reliance on Asia in key sectors such as automotive, pharma, semiconductors, chemicals, and metals. The co-production model is already well established and continues to expand. Co-production refers to sharing manufacturing processes across countries, so different stages of production occur in multiple locations but operate as one integrated system.

Evolving Supply Chain Strategies

There has been a noticeable shift in how companies are thinking about supply chains. There was a lot of discussion around:

Securing access to critical inputs, particularly metals, semiconductors, and minerals like lithium. Finding new sources or creating synthetics for rare earth materials was also highlighted.
Identifying alternative sourcing options
Carrying more safety stock for key materials

This ties into a broader point that came up a few times — ROI needs to factor in risk, not just cost. That has implications for inventory strategy, sourcing decisions, and capital allocation, particularly for middle-market companies that have traditionally optimized for efficiency.

Another point that came through clearly is that uncertainty slows investment. With the USMCA review still in process, companies are continuing to invest in the region, but with a more cautious and measured approach.

Trade Policy Outlook

Trade balance, specifically deficits, remains an important consideration in how policy discussions are evolving. Companies should be alert for potential agreement modifications to address this, although the policy outcomes will be influenced by national and regional pressures. There was also a call for companies to share real-world examples with trade representatives to help demonstrate both the successes of the agreement and where improvements are needed.

Interestingly, while tariffs came up in side conversations, they were not a major focus of the conference. The primary discussion was around the need for a more consistent tariff structure across the three countries to support a unified environment for North American manufacturers. The emphasis overall was much more on long-term trade structure than short-term policy tools.

From a middle-market perspective, a few practical implications come to mind:

Continue to think regionally, not just domestically. As you review supply chains, keep in mind the opportunities within North America.
Build more resilience into supply chains, even if it increases cost in the short term. Identify critical inputs and evaluate availability. Consider whether additional safety stock is needed to protect against disruption.
Revisit ROI frameworks to incorporate supply risk. It costs money to carry inventory, but there is also a cost to production disruption. Balancing the two will continue to be a challenge.
Monitor how USMCA changes could impact cross-border operations. Middle-market businesses may not be at the center of the regional structure, but they play an important role in it. Whether you supply larger companies or rely on them, the regional model will impact your operations.

The Road Ahead

While discussion about policy is important in terms of how much of the current structure will remain intact, this conference largely reinforced that North America is continuing to operate as an increasingly integrated manufacturing platform. That is a positive development for middle-market manufacturers in the region. Citrin Cooperman’s Manufacturing Industry Practice helps companies navigate change, manage risk, and build a more resilient path forward. To explore supply chain and trade solutions for your business, contact Laura Crowley.