Car sector raises alarm over tweaks to Nafta
New York
THE car sector is sounding alarms on the Trump administration's efforts to overhaul the North American Free Trade Agreement (Nafta), with North America's top parts-supplier warning an expected push to increase content requirements in cars could result in a "lose-lose" situation.
Changes to rules of origin - which govern what share of a car must be sourced from Nafta countries for the vehicle to benefit from the trade pact - will add both complexity and costs, said Don Walker, chief executive officer of Magna International Inc.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US