US position would add pressure on Japan during trade talks
The proposed India-EU free trade agreement cannot be finalised without an Indian commitment to lower import duties on cars and car parts, the EU Ambassador to India said.
The State government told the Madras High Court that an out-of-court settlement was likely in its long-running dispute with Japanese automaker Nissan.
A failure to seriously resist NAFTA 2.0’s passage into law in Canada, the US and Mexico will amount to capitulation and the acceptance of an agreement that by design, like the original NAFTA, intrinsically serves the interests of Capital.
The European Commission is preparing two mandates: one to cover removal of tariffs on industrial goods and another on areas of possible regulatory cooperation in areas such as pharmaceuticals, medical devices and cyber security.
South Korean parliament ratified a revised free-trade agreement with the US, which is praised by Trump as a “great” deal.
US businesses are seeking a comprehensive trade deal with Japan that also includes services and investments even as Tokyo tries to limit the scope of upcoming bilateral talks to goods only.
Japan is mulling a bilateral trade agreement with the United States that would lower tariffs on US agriculture imports in exchange for avoiding higher tariffs on Japanese autos.
Rules of origin for autos is really a “bilateral” issue between Mexico and the United States because Canada was relatively comfortable with the original US proposal.
Canada is said to prepare to rejoin talks as soon as next week. Mexican ministers are in Washington for third week in a row.
A revised free trade agreement between South Korea and the US is reportedly in jeopardy after President Donald Trump threatened to impose heavy tariffs on auto and auto parts imports.
Toyota supplier Denso expects $700m hit if levies are implemented.
Angela Merkel badly wants a trade deal to prevent Trump from carrying out his threat to put 25% tariffs on car imports into the US.
US President Donald Trump said that European leaders were coming to Washington next week to try to hammer out a deal focused largely on car tariffs.
The Mercosur bloc of four South American nations has offered to cut import tariffs on European Union cars by 50 percent .
The Korea Institute for Industrial Economics & Trade (KIET) said in its report that the KORUS FTA is rapidly losing its positive effects in terms of South Korea’s car exports to the United States.
Some industry observers saw this latest move as a US tactic to pressure Mexico and Canada to move quickly to agree to an overhaul of the North American Free Trade Agreement.
Trump administration demands in NAFTA trade negotiations meant to push auto jobs back to the United States may not be enough to spark a shift in where automakers build cars and trucks.
Mexico is opening the door to compromise on the key Nafta issue of auto manufacturing, though it’s unclear if the flexibility is enough to reach a deal with the US and Canada.
The latest US proposal for increasing NAFTA’s regional automotive content would carry a four-year phase-in to meet a higher, 75 percent regional value threshold and new labor content rules requiring substantial work at wages of $16 an hour or higher.