The EU-Mercosur agreement and the influence of the automotive industry.
Canada is joining Mexico’s official complaint requesting a dispute settlement panel to resolve a claim that the US is violating the new NAFTA by insisting on a stricter interpretation of a key provision on auto parts.
An agreement has been reached following earlier troubles in the free trade between the two countries.
The Mexican government has requested a dispute resolution panel under the US-Mexico-Canada free trade agreement, because it claims the United States is improperly interpreting stricter regional content rules under the pact.
Canada has joined Mexico in seeking formal consultation with the United States over the interpretation of content rules for automobiles
The US insists on a stricter way than Mexico and Canada believe they agreed to for counting the origin of certain core parts including engines, transmissions and steering systems in the overall calculation.
Ford Europe chief has written an open letter to the trade ministers of a number of EU states to express concerns over trade arrangements between Europe and other parts of the world
Britain’s trade deal with Japan settled the nerves of a lot of Japanese businesses in the United Kingdom and gives them confidence about their future prospects there, a senior Honda executive said.
The economic partnership agreement between Japan and the UK will maintain preferential tariffs for industrial products manufactured with components made in the European Union in a win for Japanese automakers.
South Korean exporters need to be on alert as India has been strengthening trade remedies such as anti-dumping measures to protect its industries, said a local trade association.
The two aim for a free trade agreement (FTA) in the long run and have been working on an initial trade deal for almost two years amid a plethora of bilateral issues ranging from medical devices, agriculture, Harley Davidson motorbikes, e-commerce, totalisation pact, visa issues and disputes at the World Trade Organization.
Britain will phase out tariffs on Japanese auto imports by 2026 but the countries are still negotiating what to do with levies on cheese under a post-Brexit free trade deal.
Japan and Britain aim to clinch a trade deal by the end of July and Tokyo wants to secure at least the same automobile tariffs as it has in its existing European Union trade pact,
To qualify for tariff-free trade, makers of heavy vehicles must meet various requirements, including a 60% regional content threshold that will increase gradually and 70% regional inputs of steel and aluminum.
As part of the settlement, the Japanese automaker is expected to receive between $185 million and $238 million, two sources aware of the matter said.
Mexico’s government asked the United States and Canada to grant its automotive industry extra time to adapt its supply chains as the deadline for implementing a new North American trade deal approaches.
A bipartisan group of 19 US senators urged the Trump administration to push back the planned June 1 start date for the new US-Mexico-Canada trade pact.
Automobile and wagyu beef exports to the European Union are increasing thanks to tariff cuts under an economic partnership agreement between Japan and the EU.
Auto tariffs are expected to come up as a top agenda item in Japan-UK trade talks that are expected to start as early as this spring after the latter’s exit from the European Union.
US rules-of-origin demand presents new challenge for Mexico. Requirements for cars are among most complicated USMCA topics.