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In the News: Auto Tariffs, NAFTA, Iran Sanctions, African FTA

Thursday, July 05, 2018
Sandler, Travis & Rosenberg Trade Report

EU preparing new tariffs if U.S. slaps duties on autos and auto parts

“The European Union is reportedly preparing to slap tariffs on up to $300 billion of U.S. products if the White House goes ahead with its threatened tariffs on auto imports from the EU. … The threatened figure is enormous, dwarfing the levels of tariffs that have been lobbed at the U.S. in the early stages of what may turn out to be a fully-fledged trade war. It’s around the same as the value of U.S. imports of foreign cars and parts.”


Mexican election will jumpstart NAFTA talks, adviser says

“We are basically supporting what Mexico has been putting forward,” said Jesus Seade, chief NAFTA negotiator for President-elect Andres Manuel Lopez Obrador. “And we will be more than happy to explore, proactively, ways to energize the negotiation.”


State Dept. leaves door open to Iran oil import exemptions

“The U.S. will grant waivers ‘on a case-by-case basis’ so countries can buy Iranian oil after American sanctions are reimposed, a State Department official said, softening the Trump administration’s stance as it seeks to isolate the Islamic Republic after quitting the Iran nuclear deal.”


South Africa signs continental free trade agreement

“The signed agreement will increase intra-regional trade and further more complex levels of production on the African continent.”

[Engineering News]

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