Sunday, 23 September, 2018
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  • US Is Said to Demand Steel Tracking in Nafta Push on Autos

US Is Said to Demand Steel Tracking in Nafta Push on Autos

US demands an end to Canada's supply management The United States wants the end of supply management
Kenny Thornton | 17 October, 2017, 23:08

The move, if passed, would boost domestic American steelmakers, particularly integrated producers like U.S. Steel Corp. and AK Steel Holding Corp., which supply automakers with sheets to make hoods, doors and other parts on cars, SUVs and trucks.

"If they react negatively [to USA proposals], it may be enough for the U.S.to say, 'Enough, we're pulling out, '" said William Reinsch, a veteran Washington trade specialist who is a fellow at the Stimson Center think tank.

Mexico and Canada remain committed to finding compromises, the sources said.

Over the previous year, Mexico has aggressively pursued new or updated trade deals with other countries, seeking new markets for its exports and new partners for imports.

Benfica transformed me, says Man United's Matic
I didn't think about signing a new contract, but I don't think about leaving, too". Wherever the manager wants me to play, I go out and give 100 per cent.

Leaders from all three countries are slated to speak at 3 p.m. ET in Washington.

Rules of origin will be negotiated in sessions Friday, Sunday and Monday during the fourth round of talks outside Washington, D.C. The auto sector has warned that a substantial change to rules of origin would upend supply chains and be costly for the industry. Currently, vehicles that are manufactured with at least 62.5% of contents from any combination of the three countries can be shipped from one NAFTA nation to another without paying duties. It doesn't matter if the auto parts are made in Mexico, Canada or the United States, as long as they were produced in North America. There have been reports that some US negotiators themselves are reluctant to argue demands even they don't agree with.

According to CBC, the demands presented by the USA delegation came from the Trump administration. The U.S. proposed vastly expanding the list to include textiles, aluminum and other metals, one official said. "However, higher requirements for North American content would actually incentivize manufacturers to cease trading under the agreement and instead simply pay the low USA most-favored nation tariff".

The Mexican source would not comment on rules of origin. "Content has to be measured regionally". Critics say it would create too much uncertainty for foreign investment. It's possible that his administration is trying to sabotage the agreement to justify a withdrawal, said Paul Ashworth, the chief U.S. economist at Capital Economics. "Because of its complex supply chains that cross both borders, the auto industry would suffer the most, with autos accounting for almost 40% of exports to Canada and 22% of exports to Mexico".

Exelixis, Inc. (NASDAQ:EXEL) Among Today's Biggest Gainers - Up $4.57
Quarterly Sales Analysis of Mylan NV (NASDAQ:MYL)

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