Auto Industry Sees Threat to Jobs and Profits From Trump's Nafta Push

Auto Industry Sees Threat to Jobs and Profits From Trump's Nafta Push

Auto Industry Sees Threat to Jobs and Profits From Trump's Nafta Push

The fallback would also mandate the three nations in the talks - Canada, the US, and Mexico - would have to opt-in to letting the secret trade court decide cases.

President Donald Trump remained non-committal about the future of the North American Free Trade Agreement on Wednesday as he welcomed Canadian Prime Minister Justin Trudeau to the White House amid simmering disputes over trade between the two North American neighbors.

Trudeau later said he was optimistic that an agreement would be reached.

Reuters says that if Britain did join NAFTA, exporters to the European Union and North America would have to produce goods in accordance with the two separate sets of rules, according to trade analysts.

"We will see if we can make the kind of changes we need", Trump said.

With a nationalist economic agenda, Trump has denounced the agreement as a job destroyer and a "disaster" for the United States, vowing to reverse offshoring by renegotiating the treaty.

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In his appearance with Trudeau, Trump said: "We'll see what happens" when asked whether NAFTA was doomed. USA negotiators have countered with a proposal that would effectively grant the other countries less access, people familiar with the talks say.

Both Canada and the U.S. differ in the climate change. "We have to protect our workers".

For last one and a half years, US President Trump criticised the agreement and also hinted to take some serious steps being in the administration or at least send some ultimatums.

NAFTA erased most trade barriers along the United States, Canada and Mexico and led to an explosion in trade between the three countries.

Raising Mexican wages is one U.S. negotiating objective, a U.S. Trade Rep's fact sheet says, along with eliminating the ISDS. American Express, AT&T, GM and Delta were listed on publicity material for an event hosted by the U.S. Chamber of Commerce in Mexico on Tuesday, where Donohue warned that several U.S. proposals in the NAFTA talks were "poison pills" that risked dooming the agreement.

The proposals call for North American content overall to rise to 85 percent from the current 62.5 percent.

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Earlier Wednesday, during meetings with members of the House Ways and Means Committee, the Canadian prime minister stressed that he did not want negotiations to collapse.

"U.S. negotiators have made conditions so tough that Mexico and Canada could reject them, which would be the flawless excuse for the USA government to announce its departure from NAFTA", Coutino wrote.

The country's foreign relations secretary said this week it would not be a big deal for Mexico to just walk away from the talks, and that Mexico won't accept "limited, managed trade", an apparent reference to demands for higher US and regional content rules on products like auto parts.

But changing the so-called rules of origin would increase manufacturing costs and expose carmakers to new tariffs, leading to higher vehicle prices and lower demand for costly technology and safety features, according to research prepared for the Motor and Equipment Manufacturers Association, the auto suppliers trade group.

"Instead of encouraging more US content, these provisions will lead to less USA content", Wilson said.

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