Car industry may hold key to US success in Nafta talks
Trump wants carmakers to switch production from Mexico to US
Washington
TO US President Donald Trump, America's US$500 billion trade deficit is a symbol of economic weakness. If he wants a revamped North American Free Trade Agreement (Nafta) to shrink that number, he'll need a seismic shift in how cars are made on the continent.
With negotiations expected to start in August, makers of everything from toys to microchips are making their case for how the Trump administration should reshape the 23-year-old trade accord with Mexico and Canada. Based on the president's zeal for reducing the deficit, the car industry could hold the key to US success in the talks. Mr Trump has threatened to walk away from Nafta if he can't get better terms.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
If inflation continues to build, the Fed won’t be able to maintain neutral stance for long
Thailand to increase daily minimum wage to 400 baht in Oct
UK set for weak growth and highest inflation in G7, OECD says
German manufacturing downturn eases in April, PMI survey shows
India RBI's FX intervention eases as conditions turn favourable for rupee
Swiss inflation accelerates faster than expected in April