U.S. Carmakers to Meet with VP Pence on NAFTA
Detroit’s Big Three carmakers are scheduled to meet with Vice President Mike Pence today to express concern about the stalled talks over the North American Free Trade Agreement.
#economics
Detroit’s Big Three carmakers are scheduled to meet with Vice President Mike Pence today to express concern about the stalled talks over the North American Free Trade Agreement.
Sources tell Bloomberg News that General Motors CEO Mary Barra, Fiat Chrysler CEO Sergio Marchionne and Ford global operations chief Joe Hinrichs will be in the meeting.
The trio are likely to emphasize that the Trump administration’s demands to significantly rebalance NAFTA in an effort to generate more jobs and trade for the U.S. could have the opposite result.
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.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.