Mexico says NAFTA deal 'reasonably close' talks 'not easy'
“Negotiators from the United States, Mexico and Canada have been working relentlessly for weeks to clinch a deal, but major differences remain on contentious topics such as autos content. Complicating matters, the Trump administration has threatened to impose sanctions on Canadian and Mexican steel and aluminum on May 1 if not enough progress has been made on NAFTA.”
France looks at WTO revamp if Trump exempts EU from tariffs
“French Finance Minister Bruno Le Maire said ahead of a meeting of eurogroup finance ministers that the 28-nation bloc should not become ‘collateral damage of a possible trade war between the U.S. and China’ if Trump ends an EU tariff exemption by May 1.”
U.S. rejects plan to break trade court deadlock
“Tensions over the issue have been compounded by the fact that the United States has not clearly expressed its intentions for the DSB or offered a reform plan. Trump has called the WTO a ‘disaster,’ a ‘catastrophe,’ and said its rulings are ‘unfair’ to the US. Those assertions have been countered by WTO officials who note that the US has won more DSB cases than any other member.”
China may cut car import duty by half
“The State Council or China’s Cabinet, is weighing proposals to reduce the levy on imported cars to 10 percent or 15 percent” from the current rate of 25 percent. “Last week China announced it’ll permit foreign automakers to own more than 50 percent of local ventures, removing a two-decade restriction and giving a boost to global companies seeking to capture a greater share of the world’s largest car market.”
Copyright © 2022 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.