Mexican Media Brands
Report: U.S. Drops 50% U.S. Content Demand in NAFTA Talks
U.S. trade negotiators have abandoned their demand that the North American Free Trade Agreement be revised to require 50% U.S. content for cars built in the pact’s three-nation region.
#economics
Share
U.S. trade negotiators have abandoned their demand that the North American Free Trade Agreement be revised to require 50% U.S. content for cars built in the pact’s three-nation region, sources tell Toronto’s Globe and Mail.
The stipulation had been a companion to U.S. proposal that the local content level for vehicles eligible for duty-free shipment between Canada, Mexico and the U.S. be raised to 85% from the current 62.5%.
Both points have been major hurdles in updating the 24-year-old NAFTA agreement. The next formal round of trade talks are expected to begin in about one month in Washington, D.C.
RELATED CONTENT
-
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.
-
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.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.