Posts Tagged ‘Trans-Pacific Partnership’

Trump Reversing Stance on Trans Pacific Partnership

President looks to assuage concerns of farmers, auto industry.

by on Apr.13, 2018

Presiden Trump is reversing course on the Trans Pacific Partnership, investigating the country's re-entry into the pact.

In a surprising about face, President Donald Trump is apparently considering reversing one of his first decisions on trade — scuttling the Trans Pacific Partnership.

Denouncing and walking away from TPP with a sharp dig at former President Barack Obama was one of Trump’s first pronouncements after his inauguration as President in January 2017. While support for TPP was mixed, with some companies supporting and others opposing it, it did include provisions that would have benefited the global auto industry.

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Trump’s decision on the TPP helped set the stage for the assault on NAFTA. (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…)

Germans Take to Berlin Streets to Protest Trade Deal

Demonstrators fear environmental concerns, job losses.

by on Oct.12, 2015

Chancellor Angela Merkel is in favor a new trade pact between Europe and the United States.

Thousands of protesters filled the streets in the center of Berlin to protest the Trans-Atlantic Trade and investment Pact, a new proposed trade pact between the U.S. and the European Union that German carmakers have-called vital to their long-term interests.

Participants in the huge demonstration, which attracted more than 200,000 people to the German capital, are concerned the deal will reduce food or environmental standards, endanger jobs and undermine governmental authority.

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Supporters of the agreement, which include the German government headed by Chancellor Angela Merkel, insist the agreement will increase exports, helping to fuel economic expansion across Europe, which has been hurt by financial and sovereign debt crises during the past decade. (more…)

New Trans-Pacific Trade Deal Faces Challenge from US Auto Industry

Detroit fears artificially low exchange rates will give advantage to Asian competitors.

by on Oct.06, 2015

The new Trans Pacific Partnership is supposed to level the trade playing field in Asia, but Ford disagrees.

Auto-related provisions promise to be among the most contentious elements of the proposed Trans Pacific Partnership as it moves towards final Congressional approval, following negotiations with a dozen different Pacific Rim countries produced a tentative agreement on a new trade deal.

The United States, Japan, Canada, Mexico and eight other nations, among them Vietnam, Australia, New Zealand, Chile and Ecuador, unveiled the deal Monday after eight years of talks. A final deal came after almost a week of talks in Atlanta resolved final disputes over dairy, pharmaceutical drugs and automobile export rules, according to the New York Times.

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The pact was designed to place the signatories, including the United States, in a stronger position in the economic competition with China. However, a number of nations with ties to the global auto industry such as the Thailand and the Philippines are not parties to the agreement. (more…)

American Automakers Wary of Trans-Pacific Trade Pact

Concerns remain about Japan’s involvement in the agreement.

by on Jul.19, 2013

AAPC President Matt Blunt renewed calls for caution about allowing Japan to participate in the Trans-Pacific Partnership.

The opening of another round of talks about the Trans-Pacific Partnership has American carmakers, which remain skeptical about the proposed partnership, renewing their pleas of caution and skepticism about the equitability of the deal.

The Detroit Three believe the partnership could give Japanese carmakers an unfair advantage if the Japanese government is allowed to continue manipulating the value of its currency to encourage an unfair trade practices.

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The TPP would create a common market around the Pacific Rim, including North America, Australia and Southeast Asia is getting underway in Malaysia.

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