Mexican Media Brands
Canada Signs Trade Pact with South Korea
Canada will phase out its import tariffs on South Korean auto imports in less than five years as part of the trade pact with the country announced today.
#economics
Share
Canada will phase out its import tariffs on South Korean auto imports in less than five years as part of the trade pact with the country announced today.
The agreement ends a decade of sporadic negotiations between the two countries. Under terms of the deal, Korea and Canada will immediately remove 76% and 82% of existing levies, respectively, Korea's tariffs currently average 13% compared with 4% for Canada.
Ford Motor Co. opposes the deal for the same reasons it has voiced about similar Korean pacts with the U.S. and Europe.
The carmaker complains that all three agreements fail to address Korean currency manipulation and non-tariff barriers that will continue to shield the country's domestic market.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.