Shafaqna English | by Amir Abbas Moohebat– Automakers based in Detroit are preparing to present a case to the Trump administration, contending that the proposed revisions to the North American trade agreement could result in billions of dollars in additional costs for their operations.
They also plan to argue that such changes would undermine their ability to compete effectively against foreign manufacturers in the global marketplace.
American car manufacturers are still grappling with the large array of tariffs that the administration imposed over the past year. These include duties on steel and aluminum imports, as well as on automotive components and finished vehicles coming from Mexico and Canada.
At the same time, they point out that their competitors from Japan, South Korea, and Europe are subject to considerably lower tariff rates, which places U.S. firms at a distinct disadvantage.
Source: Reuters