Posts Tagged ‘trade news’

Ending NAFTA Cripples US Trade, Clinton Aide Says

McLarty encourages auto industry to be "vocal" about its concerns, needs.

by on Jan.18, 2018

U.S. Trade Representative Robert Lighthizer, left, talks with Canada's Chrystia Freelander and Mexico's Ildefonso Guajardo, both right.

Without the North American Free Trade Agreement, the auto industry in the United States, Mexico and Canada would find it difficult to meet the future challenges from manufacturers from Asia and Europe in building the next generation of motor vehicles.

Certainly the current agreement needs to be modernized panelists said during a discussion on NAFTA during the Automotive News World Congress. “It was written even before there was an internet,” said, Thomas “Mack” McLarty, the former aide to President Bill Clinton, who helped guide NAFTA through Congress in 1993.

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McLarty noted that the NAFTA negotiated under President George H.W. Bush and was approved under President Clinton with help of major blocs of votes from both Democrats and Republicans. “This is a tough decision politically. But it is very straight forward in terms economic security,” he said. (more…)

NAFTA Talks Fail to Make Headway as New Year Looms

Mexico and Canada not giving U.S. what it wants.

by on Nov.22, 2017

President Donald Trump has reiterated he has no problem replacing NAFTA with unilateral treaties.

With chances the of failure rising, delegates from the United States, Mexico and Canada have wrapped up another round of talks centered on revising the North American Free Trade Agreement without making any progress on a range of key issues such as automobiles and agriculture.

The negotiations held in Mexico City were aimed at reforming the NAFTA pact enough to head off U.S. President Donald Trump’s threats to scrap it.

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The latest round focused on trade remedies, rules of origin, which are critical to the auto industry, and matters related to agriculture, which represents a key element of any kind of agreement, Mexico’s chief technical negotiator, Kenneth Smith, told reporters.  (more…)

Commerce Secretary Ross Optimistic about NAFTA Talks

President Trump still pushing to kill deal.

by on Oct.12, 2017

President Donald Trump continues to threaten to walk away from NAFTA, but officials are positive the revised deal can be completed.

While President Donald Trump continues to talk about walking away from the North American Free Trade Agreement if necessary, U.S. Commerce Secretary Wilbur Ross says he still expects to reach a deal with Mexico and Canada on revising the existing agreement.

“From time to time (the President) has expressed a total willingness to depart from NAFTA should that become necessary,” Ross, whose personal investment portfolio includes controlling interest a major automotive supplier with factories in Mexico told a panel in Washington D.C., according to

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“We don’t hope it will, we don’t desire that it will, we don’t believe that it will, but it is at least a conceptual possibility as we go forward.” (more…)

Manufacturers Group Blasts Trump on Trade Policies

Organization chides Trump for breaking promises.

by on Aug.07, 2017

The Alliance of American Manufacturers blasted Donald Trump for not following through on his campaign promises about trade with China.

The Trump administration’s lack of progress on trade issues has come under fire from a group of manufacturing companies and labor unions.

“Don’t let the president’s tweets fool you. Every chance the administration has had to make meaningful change on trade policy, they’ve kicked the can down the road,” said Scott Paul, president of the Alliance for American Manufacturing.

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“Just over one year ago, President-elect Trump promised to get tough on China’s trade cheating by stopping Beijing’s intellectual property theft, massive overcapacity and currency manipulation. Now as president, Trump is currently zero for three on these issues,” Paul said.  (more…)

As Promised, Trump Scuttles Trans-Pacific Partnership Deal

Move likely to make Ford executives happy.

by on Jan.23, 2017

President Trump signed an executive order today ending the country's potential participation the Trans-Pacific trade deal.

President Donald Trump signed an executive order announcing his plan to withdraw the U.S. from the Trans-Pacific Partnership trade negotiations, which effectively kills one of the few Obama administration proposals backed by Republican Congress.

Trump also re-iterated his plans to re-negotiate the North American Free Trade Agreement. Both moves indicate Trump views his stance on ending support for free trade as one of the most popular elements of Presidential program.

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It also shores up his support among perhaps the most restless part of his blue-collar base, workers in manufacturing industries in the Rust Belt states.  (more…)

President Trump Jumps on NAFTA Before Inaugural Speech Ends

Commander-in-chief backing up campaign promise on NAFTA.

by on Jan.20, 2017

President Donald Trump didn't waste any time jumping into governing, issuing a call to renegotiate NAFTA before his inaugural speech ended.

It didn’t take long for President Donald Trump to move from words to actions. As he was delivering his inaugural address, the White House issued statements saying Trump is pulling out of the Trans-Pacific Partnership and would take immediate steps to renegotiate NAFTA.

“With a lifetime of negotiating experience, the President understands how critical it is to put American workers and businesses first when it comes to trade,” the White House said in a release.

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“With tough and fair agreements, international trade can be used to grow our economy, return millions of jobs to America’s shores and revitalize our nation’s suffering communities.” (more…)

Trump Rethinking NAFTA Plans

President-elect adviser examining agreement to make it more U.S. friendly.

by on Dec.07, 2016

President-elect Donald Trump is rethinking his plans for terminating the North American Free Trade Agreement.

Apparently ripping up NAFTA is not Job One for the incoming Trump administration after all.

The Hill, a newsletter and website that follows policy developments in Washington, reported this week that members of President-elect Donald Trump’s transition team are telling corporate executives that the administration isn’t going to do anything that might prompt a trade war with Mexico or Canada, this country’s principal partners in the North American Free Trade Agreement.

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Trump announced he will scuttle the Trans Pacific Partnership. But unlike TPP, which was never signed or approved, NAFTA has been in place for more than 20 years and has created a broad web of interests on both sides of the border. It is considered essential by automakers. (more…)

UAW President Vows to Block Trans-Pacific Partnership

Williams believes deal will cost jobs.

by on Sep.26, 2016

UAW President Dennis Williams said the union will fight the approval of the Trans-Pacific Partnership.

The United Auto Workers, while committed to supporting Hillary Clinton in the upcoming Presidential contest with Donald Trump, is vowing to help defeat the Trans-Pacific Partnership trade agreement touted by President Barack Obama.

Dennis Williams, president of the UAW who has been an important political ally of Obama for more than two decades, told reporters during a roundtable discussion that he simply disagrees with the President on TPP.

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“I’ve known the President since 1994. We’re friends. But he and I just disagree on this,” said Williams, who was invited to ride in the Presidential limousine when Obama visited Detroit for the North American International Auto Show in January. (more…)

Momentum for Trans-Atlantic Trade Deal Stalls

Pact could have streamlined safety standards, saving billions of dollars.

by on Aug.31, 2016

Daimler's Dieter Zetsche is one of many auto executives who were in favor of the now stalled trans Atlantic free trade partnership.

Global automakers appear to have suffered a political setback as discussion on a sweeping trade agreement between the United States and Europe appear to have stalled.

Sigmar Gabriel, German vice chancellor, said during an appearance in Berlin that talks on a trans Atlantic free-trade zone have run aground amid the rising political anxiety over trade on both sides of the Atlantic.

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In the U.S. both Hillary Clinton, the Democratic Presidential candidate, and Donald Trump, her Republican rival for the Presidency, have cast doubts on new trade agreement. Trump, in fact, has made the anti-free trade rhetoric central to his campaign. In Europe, the British vote to exit the European Union has served to exacerbate the political tension surrounding trade issues. (more…)

Ford Maintains New Pacific Trade Deal Bad for US Automakers

Automaker says currency manipulation safeguards not strong enough.

by on Nov.05, 2015

President Barack Obama's support of the pending Trans-Pacific Partnership isn't swaying Ford Motor Co. leaders to support it.

The bickering between anti-agreement automakers and pro-pact politicians over the details of the long-discussed Trans-Pacific Partnership continues to get louder and more strident.

President Barack Obama and U.S. Trade Representative Michael Froman today defended the parts of the deal related to currency manipulation, suggesting that the safeguards in deal should make automakers happy.

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Conversely, the companies, in particular Ford Motor Co., claim the potential free trade deal doesn’t go far enough to prevent that from happening. (more…)

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