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.