Mexican Media Brands
U.S. Targets NAFTA Agreement this Month
Envoys from Canada, Mexico and the U.S. will reconvene next Monday in hopes of reaching agreement on updates to the North American Free Trade Agreement.
#economics
Share
Envoys from Canada, Mexico and the U.S. will reconvene next Monday in hopes of reaching agreement on updates to the North American Free Trade Agreement.
U.S. Trade Representative Robert Lighthizer tells reporters he hopes to wrap up the details before the end of May. Whether that is feasible isn’t clear, since reports indicate continuing strong disagreement over such pivotal issues as local content requirements.
Observers note that politics will become an increasing issue this summer and could jeopardize any deal based upon the past eight months of negotiations. Lighthizer says talks to date have aimed at shaping a deal that satisfies the current Congress.
Many pundits believe that November’s congressional elections will shift control of the House of Representative from Republican to Democrat. Lighthizer hopes to get an updated NAFTA deal ratified before the new Congress convenes in January.
Meanwhile, Mexico’s support for a deal also could be changed by results of the country’s presidential election on July 1. That is about when U.S. congressional reelection campaigns will gear up.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
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.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.