Economy

Auto Industry to Washington Pols: Keep NAFTA in place

Auto Industry to Washington Pols: Keep NAFTA in placeā€

"If we stay on this path, it will go well, as we are defending a fair deal for an agricultural sector that is worth over 95 billion USA dollars to Mexico", said the minister in a statement.

"American automakers are driving the revival of American manufacturing", said Governor Matt Blunt, President of the American Automotive Policy Council (AAPC).

Freeland, said she was disappointed in the "winner-take-all-mindset" of the negotiations, and that while an agreement for an improved NAFTA is "absolutely achievable", it can not be reached with an "approach that seeks to undermine NAFTA rather than modernize it".

During the last round of negotiations, officials demanded that 85 percent of a vehicle's parts content come from North American sources, with 50 percent exclusively from the U.S. That's an increase from the existing 62.5 percent and 30 percent ratios, one deemed impossible by auto industry experts, Canada and Mexico. While NAFTA has been in effect, domestic and worldwide manufacturers and suppliers invested hundreds of billions of dollars in new and renovated USA facilities, and job creation. Some vehicles assembled by American companies in Canada or Mexico could be hit with import tariffs. In his recent letter to Trump, the president of the U.S. Chamber of Commerce noted that NAFTA and its spirit of co-operation have helped establish North America "as one of the most vibrant and competitive regions in the world". In an interview that aired on Sunday on the Fox Business Network, Trump said the deal would "probably" be renegotiated, but said he will withdraw if it is not fair. "Otherwise, I believe you can't negotiate a good deal".

Global tribunals that exist under the current agreement would become voluntary, so foreign companies would not be able to do an end-run around USA courts, sue American taxpayers for damages, and even overturn our laws.

They intend to support attempts to convince the Trump administration to not withdraw from NAFTA, which has proven vital for the growth of production and jobs in the United States' automotive industry. "It's important to remember that these jobs are not just numbers", John Bozzella, president and CEO of the Association of Global Automakers, said in a statement. The coalition also includes the Motor & Equipment Manufacturers Association and American International Automobile Dealers Association, Reuters reports. "It's clear NAFTA is working for the towns and communities served at the 16,700 dealerships across America, and helping create more stable, skilled American jobs with each passing year".



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