Trump said to soften on NAFTA regional car content

“While the U.S. had been pushing for 85 percent of a vehicle’s content to be sourced from the three Nafta countries to be traded tariff-free, its latest proposal would apply that threshold to major components such as transmissions and engines but not to the simplest inputs like nuts and bolts. … One problem with the new plan is that no cars now made in North America would meet the proposed requirement for 85 percent of major components to come from the region.”

[Bloomberg News]

Japan’s Aso pushes back against Trump on bilateral trade deals

“‘After the war, the U.S. set up a multilateral trading system -- not a bilateral one -- and the whole world is moving in that direction,’ Finance Minister Taro Aso told reporters in Tokyo on Friday. ‘But recently, and mainly due to the U.S. trade deficit, they’re looking to do things bilaterally. We don’t want talks like that.’”

[Bloomberg News]

India imposes 10 percent tax on import of key smartphone components

“The taxes are part of Prime Minister Narendra Modi’s phased manufacturing programme, a plan unveiled in 2016 to step up local value addition every year in smartphone manufacturing. Modi, who wants to turn India into a manufacturing powerhouse like neighbouring China, has gradually raised import taxes on low-value components such as batteries, chargers and earphones, pushing Indian firms to assemble them.”


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