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Posts Tagged ‘Trump trade policies’

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…)

GOP Flustered by Trump Administration on Trade Issues

President's ambiguity on agricultural issues causing problems.

by on Feb.21, 2017

President Donald Trump's "border tax" plan is getting a lukewarm reception from the Republican Party.

Republican concerns about Trump administration policies on trade and trade agreements continue to expand, according to The Hill, a political website that monitors Congress.

Trump’s “border tax,” which is part of what the President has described as an effort to bring manufacturing jobs back to the U.S., has been meet coolly in the GOP controlled Senate even though it has been blessed by House Speaker Paul Ryan who sees it as a way to offset the revenue loss that follow a sweeping tax reform package Trump is also promising to deliver.

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However, with the price of wheat, corn and soybeans falling, trade is also quickly emerging as a major issue for Republican lawmakers, who are increasingly worried about Trump’s promises to tear up the North American Free Trade Agreement and his decision to scuttle the Trans Pacific Partnership. (more…)

President Trump Jumps on NAFTA Before Inaugural Speech Ends

Commander-in-chief backing up campaign promise on NAFTA.

by on Jan.20, 2017

President Donald Trump didn't waste any time jumping into governing, issuing a call to renegotiate NAFTA before his inaugural speech ended.

It didn’t take long for President Donald Trump to move from words to actions. As he was delivering his inaugural address, the White House issued statements saying Trump is pulling out of the Trans-Pacific Partnership and would take immediate steps to renegotiate NAFTA.

“With a lifetime of negotiating experience, the President understands how critical it is to put American workers and businesses first when it comes to trade,” the White House said in a release.

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“With tough and fair agreements, international trade can be used to grow our economy, return millions of jobs to America’s shores and revitalize our nation’s suffering communities.” (more…)

Trump Rethinking NAFTA Plans

President-elect adviser examining agreement to make it more U.S. friendly.

by on Dec.07, 2016

President-elect Donald Trump is rethinking his plans for terminating the North American Free Trade Agreement.

Apparently ripping up NAFTA is not Job One for the incoming Trump administration after all.

The Hill, a newsletter and website that follows policy developments in Washington, reported this week that members of President-elect Donald Trump’s transition team are telling corporate executives that the administration isn’t going to do anything that might prompt a trade war with Mexico or Canada, this country’s principal partners in the North American Free Trade Agreement.

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Trump announced he will scuttle the Trans Pacific Partnership. But unlike TPP, which was never signed or approved, NAFTA has been in place for more than 20 years and has created a broad web of interests on both sides of the border. It is considered essential by automakers. (more…)

Ford CEO Warns of “Huge Impact” to Economy from Trump Trade Plans

Fields says Ford won’t back off of Mexican manufacturing.

by on Nov.15, 2016

Ford CEO Mark Fields during the keynote address for the L.A. Auto Show warned that a hefty tariff on Mexican-built cars could harm the U.S. economy.

Ford Motor CEO Mark Fields warned that President-elect Donald Trump’s proposed trade plans – which include a 35% tariff on motor vehicles imported from Mexico – would have a “huge impact” on the entire American economy, not just the auto industry.

Though Fields said Ford has “had conversations with the transition team” for the incoming president, his comments, made during a keynote speech marking the opening of the 2016 Los Angeles Auto Show, could escalate a sometimes sharp dispute that began early during the election campaign. It was touched off by Ford’s announcement it would shift small car production from U.S. plants to a new factory in Mexico.

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“We’ve got to keep (factories) here. It’s not that hard to do,” then-candidate Trump said during one campaign interview, adding that if Ford and other makers continued to expand in Mexico, “pretty soon all we’re going to have is nursing home jobs.” (more…)

Indian-Made Ford EcoSport Likely to Add Fuel to Trade Debate

Automakers could be heading for showdown with new president.

by on Nov.15, 2016

Coming at us - from India - the new Ford EcoSport.

Ford’s new EcoSport model is set to become the smallest SUV in the Detroit carmaker’s line-up, but it could fuel the big debate over automotive trade.

That’s because the little EcoSport will roll off a Ford assembly line in India, rather than one in the United States. Ford has also made plans to move all of its small passenger car production from its U.S. operations to a new facility in Mexico – a decision frequently cited by President-elect Donald Trump during his campaign.

Trade News!

The Republican candidate repeatedly warned that he would take steps to block Ford from importing Mexican-made passenger cars, if by no other means than adding hefty tariffs. Since last week’s election, the incoming administration has sent signals it will not only try to tear up NAFTA and block the Trans-Pacific trade deal but it will look at barrier-inducing tariffs against a variety of countries, possibly including China. (more…)

International Trade Deals Going Down in Flames

Trump plans to kill pending multinational trade pacts.

by on Nov.14, 2016

President-elect Trump plans to withdraw support from the Trans-Pacific Partnership.

The ripples from the last week’s Presidential election continue to rock the nation’s trade policies.

The Trans-Pacific Partnership, favored by President Barack Obama and Congressional Republicans, has now been declared a dead letter in the wake of Donald Trump’s victory at the polls.

Trade News!

A Trans-Atlantic Trade and Investment agreement favored by automakers in both North America and Europe is very likely to die as well under the weight of Trump’s skepticism of multilateral trade agreements. The Trans-Atlantic Partnership would have opened the door to commonizing safety regulations on both sides of the Atlantic and was favored by car makers. (more…)