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.
The European Union and Latin American bloc Mercosur have made some progress on how to open their markets to cars, but ended free trade talks in Brussels with finger-pointing about who was holding up a deal.
Negotiators trying to hammer out a quick NAFTA deal said they will take a break until May 7, allowing time for consultations with the auto industry in Mexico.
Canadian, Mexican and U.S. ministers seeking to revamp the North American Free Trade Agreement (NAFTA) have made good progress on the key question of autos, Canadian Foreign Minister said.
After Korea and the United States agreed “in principle” to revise the free trade agreement between the two countries, negotiators from Korea received a great deal of praise for managing to land a deal without giving up too much.
The US proposal would distinguish between different NAFTA car parts by grouping them into five categories, some of which would have a lower requirement for North American content or none at all
Japan will have little choice but to enter into a bilateral trade deal with the United States similar to one President Donald Trump clinched with South Korea, a former top Japanese currency diplomat said.
Mexican workers’ wages are at the heart of a major proposal from the United States aimed at breaking through an impasse on automobiles and securing a new North American Free Trade Agreement.
South Korean carmakers on Monday called on the government to create a level playing field by easing regulations for them as well after the current trade pact between Seoul and Washington was tentatively revised in favor of US carmakers.
South Korea has agreed to further open its auto market to the United States as the two countries prepare to amend their six-year-old trade agreement.
The US government has dropped a demand that all vehicles made in Canada and Mexico for export to the United States contain at least 50 percent US content.
An EU diplomat said Mercosur resistance to European proposals on automobile exports and geographic product indicators were also sticking points.
South Korea and the United States will hold the third round of talks on amending the free trade agreement (FTA) between the two nations in Washington this week, Seoul’s trade ministry said on Wednesday.
US, Mexican and Canadian trade experts leading efforts to draft new rules for auto content under a revised NAFTA trade deal aim to meet next week,
The US negotiator for regional content requirements in autos flew back to Washington from a NAFTA round in Mexico on Monday to talk with car companies, officials said, in a development some hoped would lead to progress on the contentious issue.
The emergence of a number of trade issues involving South Korea and the US – including a plan being mulled over by the US to slap tariffs on South Korean steel and GM Korea’s threat to close a factory in South Korea – is creating uncertainty about the future of the Korea-US Free Trade Agreement (KORUS FTA), just before the third round of negotiations aimed at revising the agreement.
Seventh round set to run Feb. 25 to March 5 in Mexico City. Rules of origin to be one of most discussed issues in talks.
Auto workers and manufacturers are rejecting assertions by Canada’s trade minister that the country won major access for them into the highly protected Japanese market in the recently rebooted Trans-Pacific Partnership.