Because of rising imports of autos and parts over the past 30 years, the market share of USA -owned automakers has fallen.
Most of all perhaps, it is pure good news for a prime minister who, if he fell into a bucket of candy, would emerge sucking his thumb, such has been his misfortune in recent months.
The tariffs have sparked the largest trade war in a generation and set the U.S. against all its major trading partners including the European Union, China, Canada and Mexico. The White House has refused to release the auto import study to Congress.
"This is the most optimistic we've been in a while that there is a deal to be done", he said. As part of the crackdown on transhipments, the two countries also agreed to implement measures to trace the origins of steel and aluminum that enter the North American market.
General Motors past year warned that import tariffs could cost jobs and lead to a "a smaller GM" while isolating United States businesses from the global market.
The deal to drop the tariffs is connected to an agreement related to measures to restrict the dumping of cheap steel, like what comes in from China and Russian Federation, into the North American market.
Canada, Maine's biggest trading partner, is not a significant supplier of aluminum or steel to Maine.
Her trip followed on the heels of two phone conversations Prime Minister Justin Trudeau had with U.S. President Donald Trump within the past week, where he asked for an end to U.S. steel tariffs and additional diplomatic assistance in Canada's ongoing dispute with China.
For a trade war that was launched to combat Chinese over-supply, it has been an abject failure.Читайте также: Saudi newspaper calls for United States to launch 'surgical strikes' on Iran
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In 2017, General Motors, Ford, Fiat Chrysler and Tesla combined had a 44.5% share of US auto sales, according to Autodata Corp. Mexican steelmaker Tenaris has plants in its homeland and in Canada. Yet its North American headquarters is in Houston, from which it supplies the USA market.
Trudeau was quick to claim victory for the elimination of the duties.
The government should be commended for imposing dollar-for-dollar retaliatory tariffs last summer.
The Trudeau government has branded the tariffs as illegal, absurd and insulting, while Canada and Mexico say that it will be tough to ratify the new continental free trade agreement - the United States-Mexico-Canada Agreement, or USMCA - if they remain in place.
The U.S. imported $191.7 billion in passenger vehicles and light trucks in 2018, with more than $90 billion of those imports coming from Canada and Mexico, which are duty-free under USMCA.
Trump's decision followed a Commerce Department report that concluded rising imports of foreign autos and auto parts threatened USA automotive research and development capabilities and thus impaired national security.
The timing is ideal for Trudeau - and perhaps for Canada's steel producers. They would also lift their retaliatory tariffs on the U.S.
In that same period, the domestic market share of American-owned manufacturers fell to just 22 percent from 67 percent, he said.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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