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Posts Tagged ‘NAFTA news’

Trump Backs Off Assault on NAFTA

Under pressure from auto industry, Trump no longer plans to kill trade agreement.

by on Apr.27, 2017

President Donald Trump is discovering that getting a new version of NAFTA negotiated will be more difficult than simply signing an executive order.

Despite tangling with both Canada and Mexico in recent weeks, President Donald Trump appears to again be shifting direction over the North American Free Trade Agreement, the White House late Wednesday indicating it will no longer seek to eliminate NAFTA but rather find ways to make it more favorable to the U.S.

That shift may not play well with Trump loyalists who have roundly opposed free trade agreements and, in particular, sought a wall and tariffs to seal off Mexico. But it is receiving a warmer welcome in the business world, especially the auto industry, where North American borders have become completely porous in recent decades, raising the specter of major problems for manufacturers who routinely move parts and vehicles back-and-forth between the U.S., Mexico and Canada.

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“As the biggest export sector, U.S. auto companies need trade policies that open markets, while ensuring a level playing field in the markets to which we export. The integrated North American market is important to our global competitiveness,” American Automotive Policy Council said in a statement. (more…)

Mexico Trade Chief Says NAFTA Redo Must Benefit All

Ildefonso Guajardo spoke to the Detroit Economic Club.

by on Mar.06, 2017

Mexico's top trade official Ildefonso Guajardo told the Detroit Economic Club that any renegotiation of NAFTA must benefit all the parties.

The North American Free Trade Agreement should be revised, but only if all three signatories to the treaty benefit, Mexico’s top trade negotiator said in a speech in Detroit.

Mexico’s Secretary of Economy, Ildefonso Guajardo, told the Detroit Economic Club that NAFTA is 23 years old and said revisions could benefit Canada and Mexico as well as the U.S. However, he rejected the notion that the revisions should only help the U.S. as President Donald Trump has repeatedly suggested in comments on NAFTA.

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“It is not very wise to sit down with the skewed view there has been only one winner. We were all winners,” he said.  (more…)

Mexico Warns Trump to Cut Tariff Talk or NAFTA Redo is Done

Mexico's economy minister says he'll walk if a tariff is mentioned.

by on Feb.27, 2017

Mexican Pres. Enrique Pena Nieto and members of his government are readying for talks to re-open NAFTA.

President Donald Trump may be hurtling toward “put up or shut up” time as Mexican trade officials say they will end talks to renegotiate NAFTA if Trump follows through on his plan to apply a punitive tariff to vehicles coming from Mexico.

Mexican Economy Minister Ildefonso Guajardo has said the move would be a deal break and in an interview with Bloomberg, her reiterated his intention to end negotiations over the matter.

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“The moment that they say, ‘We’re going to put a 20% tariff on cars,’ I get up from the table,” he told Bloomberg. “Bye-bye.” (more…)

UAW Ready to Talk Trade with Trump

Union agrees with President-elect's plan to renegotiate NAFTA.

by on Nov.11, 2016

UAW President Dennis Williams says the union supports President-elect Donald Trump's plans to renegotiate the North American Free Trade Agreement.

The United Auto Workers, which had campaigned against Donald Trump this fall, is prepared to support the Republican President-elect in his bid to overturn the North American Free Trade Agreement.

Meanwhile, both the Canadian government of Justin Trudeau, whose own union supporters want the NAFTA re-opened, and the government of Mexico have signaled they are willing to open talks with the new Trump administration on changing NAFTA, which has been instrumental in the development of a robust Mexican auto industry.

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“We will work with President-elect Trump as much as we can,” UAW President Dennis Williams said during a session with reporters at UAW headquarters in Detroit. (more…)