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Posts Tagged ‘Trump news’

Automakers Wary of Trump’s Plans for NAFTA Talks

President's plans contradict auto industry interests.

by on Aug.14, 2017

Negotiating points outlines by the Trump Administration have U.S. automakers concerned.

Despite continued promises to bring back automotive manufacturing jobs to the U.S. through a renegotiation of the North American Free Trade Agreement, the Trump Administration’s efforts are likely to harm to the auto industry.

The NAFTA talks are nearly set to begin and a few of the major sticking points outlined by U.S. negotiators have auto industry officials wringing their hands over the anticipated negative impact they’ll have.

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In attempt to increase the number of auto jobs, U.S. Trade Representative Robert Lighthizer wants to strengthen the rules of origin to block more parts from Asia as well as set a U.S.-specific content requirement for vehicles coming into the U.S. from Mexico. (more…)

Manufacturers Group Blasts Trump on Trade Policies

Organization chides Trump for breaking promises.

by on Aug.07, 2017

The Alliance of American Manufacturers blasted Donald Trump for not following through on his campaign promises about trade with China.

The Trump administration’s lack of progress on trade issues has come under fire from a group of manufacturing companies and labor unions.

“Don’t let the president’s tweets fool you. Every chance the administration has had to make meaningful change on trade policy, they’ve kicked the can down the road,” said Scott Paul, president of the Alliance for American Manufacturing.

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“Just over one year ago, President-elect Trump promised to get tough on China’s trade cheating by stopping Beijing’s intellectual property theft, massive overcapacity and currency manipulation. Now as president, Trump is currently zero for three on these issues,” Paul said.  (more…)

Mexico Auto Exports to U.S. Reach Record High in June

Results likely to charge up Trump administration efforts in NAFTA talks.

by on Jul.11, 2017

The Big Three automakers would like NAFTA to remain status quo; however, the Trump Administration is renegotiating the deal this summer.

With discussions on altering the North American Free Trade Agreement set to begin next month, Mexico’s auto exports set a record in June with the help of in shipments to buyers in the United States, according to new figures released by the Mexican Auto Industry Association.

With carmakers slowing production at plants in the U.S., these new results are certain to give new life to the Trump administration’s efforts to alter NAFTA’s terms.

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Automakers generally fear that these potential changes have the potential to disrupt the international network of suppliers that have linked up plants in the U.S., Canada and Mexico. (more…)

Trump Puts German Automakers in Crosshairs — Again

President criticizes car makers, calling them “bad, very bad.”

by on May.26, 2017

President Trump criticized German automakers during a recent meeting with European leaders.

German car makers have once again emerged as a target for President Donald Trump.

During a meeting with European leaders, Trump said “the Germans are bad, very bad,” according to participants in the room who spoke to one of Germany’s most famous publications, the newsmagazine Der Spiegel.

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“See the millions of cars they are selling in the U.S. Terrible,” Der Spiegel reported. “We will stop this.” (more…)

No Change to NAFTA Rule of Origin, Mexico Auto Exec Says

Trump readying for trade deal negotiations.

by on May.23, 2017

The Big Three automakers would like NAFTA to remain status quo; however, the Trump Administration is renegotiating the deal this summer.

Trump Administration officials recently began the official process to open talks about renegotiating the North American Free Trade Agreement and they’re going to find the auto industries officially agree on at least one point.

The auto industries in the U.S., Mexico and Canada all believe there shouldn’t be any changes to the rules of origin, Eduardo Solis, president of the Mexican automakers industry group AMIA, told Reuters.

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“Our position is that the trade agreement has been a success, and we shouldn’t be touching something as important as the rules of origin,” Solis told Reuters. (more…)

Trump Administration Begins Process of Renegotiating NAFTA

Talks will begin in August.

by on May.19, 2017

The Big Three automakers would like NAFTA to remain status quo; however, the Trump Administration is renegotiating the deal this summer.

The Trump Administration has begun the formal process required to open the renegotiation of the North American Free Trade Agreement this coming summer.

President Trump notified Congress this week of his intent to renegotiate the North American Free Trade Agreement. The talks with Canada and Mexico will begin “no earlier than August 16, 2017,” U.S. Trade Representative Robert Lighthizer said in a letter to Congress.

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During the 90-day countdown, USTR will consult with “Congress and American stakeholders to create an agreement that advances the interests of America’s workers, farmers, ranchers and businesses,” he said. (more…)

Automakers Hail Trump Tax Cut Pitch – But Question His Overall Results After 100 Days

A "C" for effort?

by on Apr.27, 2017

President Donald Trump gave himself an A for how he handled policy decisions earlier, but what grade is the auto industry giving him?

With the three domestic automakers each reporting first-quarter earnings this week, President Donald Trump’s tax cut proposal – which would see the top corporate rate drop by more than half, to 15% – clearly resonates in the Motor City.

General Motors said in a statement that it was “encouraged” by efforts to “modernize our tax code,” while crosstown rival Ford saw the White House announcement as “a positive step towards much needed tax reform.”

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It’s not the first time industry leaders have hailed a Trump Administration move, automakers giving thumbs up when the president ordered the EPA to reopen the midterm review of federal mileage standards. But the president has also been harshly faulted on a number of issues, notably a proposed import tax and the threatened elimination of the North American Free Trade Agreement. (more…)

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…)

Trump’s Border Tax Plan Headed for Oblivion

Economist suggests it would have caused a trade war.

by on Apr.13, 2017

Pressure from the CEOs of Ford, General Motors and Fiat Chrysler may have helped derail President Trump's border tax plans.

The chances that the Trump administration will be able to impose a border tax on imports into the United States appears to be declining and pressure from the auto industry may have played a significant role.

Early in his presidency, Trump indicated that he viewed the border tax as tool for rebuilding the manufacturing base in the United States, which was one of, if not the central promise he made repeatedly during the contentious 2016 Presidential campaign.

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However, chances of the Trump administration triggering a trade war with the border tax appear to have diminished. (more…)

Trump Continues to Threaten Foreign Automakers

President tells crowd that there will be "consequences."

by on Mar.20, 2017

President Donald Trump continues to threaten foreign automakers, including German companies, with a border tax.

President Donald Trump continues to make veiled threats against Germany’s automakers, which are among the most successful in the world, apparently as part of a key tactic in negotiating new and more advantageous trade agreements with European countries.

“Germany has done very well in its trade deals with the U.S., and I give them credit for it,” Trump told a White House press conference. “Virtually any country we do business with — it’s not exactly good for our workers.”

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“The U.S. has been treated unfairly and that’s going to stop,” he told reporters at the White House. During a meeting with representatives of both foreign and domestic car makers in Detroit last week Trump urged them to build more vehicles in the U.S. (more…)