Donald Trump: Mexico and Canada ‘Very Spoiled’ with NAFTA

Pauline Gross
May 25, 2018

Under the US's Trade Expansion Act of 1962, such a scenario could allow Trump to raise import tariffs to protect national interests.

Trump tweeted early Tuesday that, "There will be big news coming soon for our great American Autoworkers.

BMW, which along with Mercedes has expanded production capacity in the U.S., said in its own statement that "barrier-free access to markets is therefore a key factor not only for our business model, but also for growth, welfare and employment throughout the global economy".

Foreign Affairs Minister Chrystia Freeland said Wednesday that NAFTA negotiations continue "at a very intense level", with officials from all three countries in close contact.

The process for investigating whether tariffs are necessary and then imposing typically takes about six months. Yet it risks raising vehicle prices, complicating pending trade talks, and antagonizing lawmakers into re-examining presidential trade authority.

Former Under Secretary of Commerce Stefan Selig discusses how President Trump is weighing a plan that would impose new tariffs on imported vehicles.

But Washington imposes 25 percent tariffs on European pick-ups and trucks - which the EU taxes at a much lower 14 percent on average.

He added, "Core industries such as automobiles and automotive parts are critical to our strength as a Nation".

There is evidence suggesting that, for decades, imports from overseas have eroded our domestic auto industry. "The U.S. auto industry is thriving and growing".

At the end of the day, it's the domestic political situation that is the cause for Donald Trump's weakening hand on trade.

Commerce Secretary Wilbur Ross promised a "thorough, fair and transparent investigation".

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"It's an improper use of trade law".

President Trump as he walks to Air Force One, to head to NY to attend a roundtable discussion on immigration.

Senate Homeland Security Chairman Ron Johnson said Congress should claw back some of the powers it has given the president to impose tariffs by citing security reasons. "We need to start reclaiming some of that authority".

During a meeting with auto executives earlier this month, Trump said he would push for an increase in the production of vehicles built at USA plants.

Major business groups also slammed the directive.

"The administration has already signalled its true objective is to leverage this tariff threat in trade negotiations with Mexico, Canada, Japan, the European Union, and South Korea", chamber President Thomas Donohue said in a statement. But given the importance of the US market to these firms-and the fact.

He also predicted that American auto workers "are going to be extremely happy" with what emerges.

German Finance Minister Olaf Scholz said the European Union should be united in its response to the threat of USA tariffs. Trump has long opposed the current NAFTA terms and has made it a point of his presidency to re-work the deal.

Trump has repeatedly vowed to impose tariffs to protect the U.S. auto industry, having been elected in 2016 on a promise to bring back millions of lost American jobs from overseas. So far, candidates from both parties in those races have remained silent on Trump's action. "They have been taking advantage of the United States for a long time", Trump told reporters outside the White House. That could help Republicans in key midterm races.

"If now the United States would unilaterally raise vehicle tariffs, for instance, it obviously would be against the WTO", Mr Katainen said, in reference to the World Trade Organisation, the global arbiter on trade.

Other reports by GizPress

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