Mexican Media Brands
Pacific Rim Trade Talks Stumble
Efforts to secure agreement on the Trans-Pacific Partnership trade pact stalled on Friday in part over debate related to car and truck tariffs and which products would be covered by the 12-nation accord, Bloomberg News reports.
#economics
Share
Efforts to secure agreement on the Trans-Pacific Partnership trade pact stalled on Friday in part over debate related to car and truck tariffs and which products would be covered by the 12-nation accord, Bloomberg News reports.
Japan wants the TPP to cover components produced by the extensive Asian supplier networks developed by its major carmakers. Mexico, whose domestic auto industry is expanding dramatically, objects. The White House has pushed hard to finalize the deal soon and is eager to reach agreement before next year's presidential elections.
Negotiators note they made "significant progress" in such areas as trademarks and environmental standards. They also suggested the talks may resume by the end of August. Japan's economy minister tells reporters he believes all remaining issues could be resolved in one more meeting.
The TPP member countries are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S. and Vietnam.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.