Sport

Commerce secretary amps up pressure ahead of third NAFTA round

Commerce secretary amps up pressure ahead of third NAFTA round”

Analysis of newly released "value-added" data from the Organization of Economic Cooperation and Development (OECD) shows that the share of USA -produced content in manufactured imports from Mexico and Canada has eroded significantly since the mid-1990s.

In a Washington Post opinion piece preview of the report to be released on Friday, Ross said the analysis of recently released OECD trade in value-added data shows a marked decline in US content in automotive imports from Canada and Mexico from 1995 through 2011.

U.S. Commerce Secretary Wilbur Ross has frequently criticized NAFTA's rules of origin as a "back door" for Chinese auto parts to enter the United States through Mexico and Canada and that the trade pact's benefits needed to be restricted to its members.

So far, US negotiators have not specified the changes they are seeking to the rules of origin or notified Canada and Mexico of their specific demand for USA content in vehicles. The U.S. content in Mexican manufactured goods fell by more, to 16 percent from 21 percent.

Vehicles assembled in the three NAFTA countries already contain 75-per-cent North American content, so changing the rules of origin in a new deal to higher than the existing requirement of 62.5 per cent makes little sense, the Bank of Nova Scotia says.

Mexico says its imports into the United States contain about 40% USA content.

Canada and Mexico combined are the largest source of manufactured products imported into the United States, accounting for almost a quarter of our imports.



Like this

loading...
loading...

Latest


23 September 2017
State enters agreement to purchase land for port
The agreement will allow the Ports of IN to begin the process of examining the environmental and economic impact of the project. The state has been considering using the 725 acres in southeast in as its next port facility for almost a year.

22 September 2017
Southwestern Energy Company (SWN) and Ensco Plc (ESV) Under Limelight
Traders will be actively monitoring current levels as the shares potentially close in on overbought territory. Moreover, Rivernorth Capital Management Llc has 2.66% invested in the company for 3.17 million shares.

22 September 2017
Alstom Confirms Tie-Up Talks With Siemens, Discussions On-Going
The stock gained 1.4 percent by 1500 GMT to trade at 117.55 euros ($140.11), outperforming the DAX index of leading German shares. Investors liked what they heard, boosting Alstom's share price on the Paris stock exchange, where it rose more than four percent.

22 September 2017
Sanders Scare-Quotes 'Enemy' in Describing Soviet Union During Foreign Policy Speech
Younger Americans now see domestic problems in the U.S.as inherently tied to global issues, Hurlburt noted . It was during the 1946 lecture series that Sir Winston Churchill delivered his "Iron Curtain" speech .

22 September 2017
Francia Raisa reveals scar after donating kidney to SelGo
But although they appear nearly the same on the outside, on the inside, the best friends are bonded forever. Lupus is a disease that causes a person's immune system to attack his or her organs and body tissue.

22 September 2017
GOP lawmaker calls for preemptive strike on North Korea
The claimed nuclear test earlier in September also caused tremors in China and prompted wave of anxiety throughout the region. Trump asserted that North Korea's reckless pursuit of nuclear weapons threatens entire world with vast loss of human life.

22 September 2017
Are Traders Shorting Cleveland-Cliffs Inc. (NYSE:CLF) Shares?
Old Mutual Global Investors UK Ltd. purchased a new stake in Cliffs Natural Resources during the third quarter worth $13,535,000. They expect this year's earnings to fall -75.67% year-over-year to -$2, followed by -61% decline in the next year to -$0.78.

22 September 2017
General Dynamics wins $5B contract for US Navy ballistic missile sub
Currently, Electric Boat has three primary locations - Groton, New London and Quonset Point, R.I. Geiger, recognizing the contributions of the Navy, the shipbuilders and the supplier base.

22 September 2017
Rutgers Receives 2 Years of Probation for NCAA Violations
A three-game suspension for the former head coach during the 2015 football season ( self-imposed by the university). The NCAA sent Rutgers a notice at the end of 2016 , notifying them of multiple violations.

22 September 2017
Raccoon makes surprise visit on Colorado police officer's windshield
The department says Frabbiele was able to pull over and allow the ride-along raccoon to safely escape. Another made a reference to Guardians of the Galaxy's Rocket, a notoriously fearless raccoon.