Automakers to pay nearly $3 billion in new U.S. tariffs under USMCA

USMCA

U.S. President Donald Trump’s modification of North American trade rules will cost automakers almost $3 billion more in tariffs during the next decade for cars and parts that will not meet higher regional content requirements during the next decade, the Congressional Budget Office (CBO) calculated. The estimate was contained in the non-partisan budget referee agency’s […]

Automakers cautions U.S. tariffs will undermine new NAFTA deal

NAFTA

U.S. automakers and parts suppliers on Thursday cautioned that President Donald Trump’s steel and aluminum tariffs and threatened vehicle tariffs would undermine the advantages of the new deal to modernize the North American Free Trade Agreement, resulting in widespread job losses. At a wide-ranging hearing prior the U.S. International Trade Commission, labor representatives stated the […]

NAFTA autos regulations to keep Detroit automakers competitive

NAFTA

Stronger automotive content regulations that are coming from NAFTA negotiations are expected to keep North America competitive as a production base and permit General Motors, Ford Motor and Fiat Chrysler to remain competitive internationally, the head of their trade group stated on Thursday. Matt Blunt, president of the American Automotive Policy Council, informed reporters on […]

Major automakers urge Trump administration not to eliminate NAFTA

NAFTA

Global automakers on Monday prompted the Trump administration not to end the North American Free Trade Agreement and revealed hope the United States, Canada and Mexico can successfully conclude a modernized and enhanced trade pact. Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne, who announced recently plans to move heavy pickup truck production from Mexico to […]