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.”
[Fortune]
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.”
[Reuters]
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.”
[Bloomberg]
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]