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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.
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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.
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