Foreign Automakers Oppose NAFTA 2.0 As US-Mexico Talks Resume
Experts suggest that companies with lesser reach in North America and fewer US research and development staff might find it difficult to meet the more stringent content requirement for years
August 21, 2018 | in Latest News| by Martin Alva
Home » News » Foreign Automakers Oppose NAFTA 2.0 As US-Mexico Talks Resume
Auto manufacturers with plants in multiple states could raise resistance to the revamped model of the North American Free Trade policy stating that it will be unfair for the plants in the southern states.
Talks between the Mexican Economy Minister Ildefonso Guajardo and US trade that took place on Tuesday was aimed at resolving the remaining bilateral issues in order for Canada to return to the bargaining table after being sidelined for weeks.
Foreign automakers including Toyota Motor Corp, Volkswagen AG, Hyundai Motor Co conveyed their stand in an unreported letter dated August 11 towards top trade-focussed members of Congress.
"We remain concerned that, without further clarifications, assurances, and modifications, many of those companies producing vehicles in multiple states will not be in a position to support legislation implementing a NAFTA 2.0," the group said in the letter, signed by John Bozzella, president of the Association of Global Automakers.
Experts suggest that companies with lesser reach in North America and fewer US research and development staff might find it difficult to meet the more stringent content requirement for years.
Additionally, the American Automotive Policy Council, which represents Detroit's Big Three (which includes General Motors, Ford and Fiat Chrysler) welcomed revised policies of the NAFTA.
Additionally, the American Automotive Policy Council, which represents Detroit's Big Three (which includes General Motors, Ford and Fiat Chrysler) welcomed revised policies of the NAFTA.
"We share the administration's overall goals of strengthening U.S. auto manufacturing and creating jobs and given the importance of NAFTA to U.S. industry we urge the negotiators to quickly complete the negotiations," said Matt Blunt who heads the trade group.
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