Trump blasts Mexico, Canada over NAFTA talks

May 25, 2018, 21:40
Trump blasts Mexico, Canada over NAFTA talks

According to the DIHK, autos and parts accounted for almost 29 billion euros ($34 billion) of Germany's 111.5 billion euros in exports to the United States past year. "It's a leak to put pressure on NAFTA", Dan Ujczo, an global trade lawyer that specializes in Canada-U.S. trade tells Politico".

Commerce secretary Wilbur Ross promised a "thorough, fair and transparent investigation", but said foreign imports may have "eroded" the power of USA carmakers.

"It's clear we don't take anything lightly but it's certain that to try and understand what the links are between the national security of the USA and cars potentially made in Ontario, it's starting to become less and less pertinent or justified in any kind of rigorous or intellectually logical way". "After many decades of losing your jobs to other countries, you have waited long enough!" he tweeted in the morning.

Jay Timmons, the chief executive officer and president of the National Association of Manufacturers said that "manufacturers in the United States want to give every advantage to American workers".

American vehicle manufacturers, General Motors and Fiat Chrysler, import between a quarter and half of their cars sold in the U.S. from plants in Mexico and Canada.

The Trump administration used that authority in March to slap tariffs of 25 per cent on imported steel and 10 per cent on aluminum imports, although it gave a reprieve to Canada and Mexico.

Talks over a replacement for the 1994 North American Free Trade Agreement among the United States, Mexico and Canada have made limitedprogress.

The target of this latest threat is not really even foreign auto companies, but Instead Mexico and Canada, which have thus far resisted Trump's demands for new NAFTA content rules which administration officials believe will shift more auto production to the U.S.

Germany's Center for Automotive Research (CAR) said the U.S. auto market was already saturated, and that its importance to German carmakers would continue to shrink due to a lack of growth potential.

European Commission Vice-President Jyrki Katainen says that any US plan to unilaterally raise tariffs on auto imports "obviously would be against" rules of the World Trade Organization.

In a Twitter message on Wednesday, he said, "There will be big news coming soon for our great American Autoworkers". Any imposed tariffs would nearly certainly stunt demand for those imported vehicles.

"We all agreed that the three of us are ready to jump on a plane and meet anywhere to get this done", she said. Having a robust automotive sector is considered vital to the country's national security.

Volkswagen on Thursday cautioned US President Donald Trump against imposing taxes on imported cars, saying that barrier-free market access was a key driver of growth, prosperity and jobs around the world.

If the review ultimately led to new tariffs the disruption to the auto industry and its supply chains would be global, and keenly felt by the Germans.

President Trump used the same provision of USA trade law in March when he called for tariffs on foreign-made steel and aluminum.

The argument for auto tariffs is even weaker. Such Trumpian tariffs would cause upheaval in an otherwise mature industry, forcing automakers to tear down and rebuild global supply lines.

"It is very hard to imagine (car imports) create any sort of threat to the national security so it is very hard to understand", European Commission Vice President Jyrki Katainen said in Brussels.

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