Trump may not honour auto tariff protections won by Canada, Mexico in 2018

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Trump may not honour auto tariff protections won by Canada, Mexico in 2018 - Business Standard

Quick Summary:

The agreements further stipulate that even for automotive products that are non-compliant with USMCA rules of origin, the Section 232 tariffs cannot exceed the tariff rate in effect on August 1, 2018 for the two countries - effectively 2.5 per cent.

Auto parts imports from Canada and Mexico will remain on a duty-free basis until the Commerce Department establishes a process for determining US content value, with no specified deadline.

The White House did not address questions about the protections but said: "America cannot just be an assembler of foreign-made parts â€“ we must become a manufacturing powerhouse that dominates every step of the supply chain." Canadian Prime Minister Mark Carney spoke with Trump on Friday for the first time since taking office, a conversation described by both men as productive.