Tag

Usmca

All articles tagged with #usmca

business3 days ago•7 min saved

Tariffs on Trial as Toyota Pumps Up Texas Production

Toyota announced a $3.6 billion expansion of its San Antonio truck plant to add a second Tacoma assembly line, shifting some production from Mexico to Texas over about four years and creating about 2,000 jobs, with the site nearly doubling in size by 2030. While Toyota says the move reflects regional growth and confidence in the workforce, President Trump framed it as proof tariffs work, though the company did not attribute the expansion to tariffs and cited ongoing USMCA uncertainty as a factor in North American automaking. Toyota will still manufacture some Tacomas and Corolla in Mexico, and the company remains committed to operations in all three countries as trade talks continue.

via Business Insider|

#business #mexico #tariffs

business7 days ago•5 min saved

Farley Urges Trade Rules to Penalize Imported Cars

Ford CEO Jim Farley called for a revamped trade framework that rewards domestic production and could penalize rivals that rely on imported vehicles; Ford says about 83% of cars sold in the U.S. are made here, while competitors like GM and Toyota rely heavily on imports, prompting a push for a level playing field in auto manufacturing.

via Carscoops|

#automotive-industry #business #ford

business9 days ago•3 min saved

Ford Seeks US-Built Advantage in Fresh USMCA Talks

Ford CEO Jim Farley urged negotiators to reward automakers that mostly build in the U.S. under a reworked USMCA and to penalize those that rely on imports, as talks reopen. Ford produced more than 2 million U.S.-built vehicles last year (exporting about 311,000) and imported roughly 378,000 of its 2.2 million sales; GM and Toyota remain heavier importers, fueling Ford’s push for a level playing field. Trade groups urged a stable extension of USMCA amid a broader administration review of the pact, underscoring the auto sector’s importance in the talks.

via CNBC|

#auto-industry #business #domestic-production

business10 days ago•4 min saved

US to exit USMCA, steering toward separate deals with Canada and Mexico

Six years after USMCA took effect, the Trump administration said it will terminate the pact and launch a decade-long process to amend it, with the possibility of separate bilateral deals with Mexico and Canada. Officials argue USMCA modernized trade but failed to rebalance deficits; Canada supports preserving the agreement and Mexico is in talks. The plan would use periodic Joint Reviews rather than letting the deal run on autopilot, while business groups note trilateral trade has grown and urge a strong, durable framework. Brookings data show intraregional trade rising from about $1.07 trillion in 2020 to over $1.63 trillion in 2024.

via NBC News|

#bilateral-deals #business #deficits

politics10 days ago•3 min saved

US pivots from renewal to annual reviews for USMCA with Canada and Mexico

The Trump administration will not renew the USMCA and will instead conduct annual reviews with Canada and Mexico. The pact will stay in effect for up to 10 years unless a member withdraws, but the yearly reviews could prompt renegotiations. Talks with Mexico are already underway, while discussions with Canada have not begun, reflecting ongoing friction over deficits and tariffs in the U.S. trade approach.

via CNBC|

#canada #mexico #politics

business10 days ago•7 min saved

North American auto sector braces for prolonged USMCA uncertainty

With no extension by the Wednesday deadline, USMCA could enter a year-long review or expire in 2036, creating renewed uncertainty for automakers whose North American supply chains rely on the pact. Negotiators are weighing higher regional value-content rules (potentially 82% with 50% U.S. content), while industry groups warn that sharp changes could raise costs and curb investment. Canada remains cautiously optimistic a trilateral deal can be reached this fall, as talks balance competitiveness with China and the costs of onshoring production.

via CNBC|

#automotive #business #north-american-trade

politics11 days ago•9 min saved

Trump's tariff stance stalls USMCA and spark uncertainty in North American trade

President Trump’s repeated hints that he might terminate or withdraw from the USMCA leave the $1+ trillion North American trade pact in limbo, forcing protracted negotiations with Canada and Mexico and creating ongoing uncertainty for automakers, farmers, and other exporters. The six-year review is due July 1; without a renewal, the pact would sunset in 2036 and invite a renewed, but unsettled, bargaining process that could disrupt supply chains and raise prices. While U.S. policymakers on both sides of the aisle still broadly back the deal, Trump’s stance is viewed as leverage that complicates investment decisions amid inflation and tariff volatility. Canada and Mexico prefer stability and predictable tariff levels, but the current rhetoric risks keeping trade policy in limbo for years.

via Politico|

#agriculture #north-america #politics

business12 days ago•6 min saved

USMCA Renewal Uncertain as Trump Casts Doubt on North American Trade

Analysts expect the July USMCA review to likely default to an annual renewal process, keeping cross-border trade uncertainty alive and acting as a headwind for businesses. Trump’s ambivalence toward the pact raises the risk of renewed tariffs or cancellation, potentially disrupting US exports, while Canada and Mexico prefer to preserve the agreement. The outcome could also reshape cross-border relations and broader regional trade dynamics.

via Al Jazeera|

#business #cross-border-trade #donald-trump

politics28 days ago•53 min saved

Trump rails against Canadian goods as analysts pin Canada cashing in on U.S. oil needs

Trump said the U.S. doesn’t need anything Canada has, but GasBuddy analyst Patrick De Haan countered that Canada supplies about 62% of U.S. oil imports and over a quarter of barrels entering U.S. refineries, underscoring Canada’s pivotal energy role while USMCA talks and tariffs loom; the Gordie Howe Bridge between Ontario and Michigan is set to open despite Trump’s earlier objections.

via Yahoo|

#canada #gordie-howe-bridge #oil-imports

business1 month ago•5 min saved

Canada's Diversification Drive Collides with US Market Gravity

Prime Minister Mark Carney’s push to broaden Canada’s trade partners faces a stubborn fact: access to the U.S. market under USMCA remains the main lure for foreign investment, with auto makers lobbying to preserve tariff-free North American access; renewal talks are due by July 1, and while Canada pursues Asia deals, the U.S. still accounts for about 70% of exports.

via Reuters|

#auto-industry #business #canada

world1 month ago•11 min saved

US targets 60 economies with sweeping tariffs over forced-labor concerns

The USTR released a comprehensive report accusing 60 economies of failing to curb forced-labor production and proposed tariffs on all products from those countries, naming partners such as China, Vietnam, Mexico, India, the UK, Canada and the EU. The move follows earlier tariffs that were struck down by the Supreme Court and drew mixed reactions from European and UK officials, who warned of uncertainty, while Washington argues the tariffs are needed to level the global playing field for American workers.

via Yahoo Finance|

#forced-labor #international-trade #tariffs

world1 month ago•13 min saved

Canada Pitches Fresh US Trade Proposals, Warns of Turbulence

Canada unveiled fresh, detailed trade proposals to the US aimed at renewing USMCA for another 16 years and strengthening North American competitiveness, while cautioning that negotiations may still be turbulent. After a Washington meeting with US Trade Representative Jamieson Greer, Dominic LeBlanc emphasized Canada’s focus on forced-labor rules and autos policy and said talks will continue in coming days, even as the US proposes tariffs on about 60 partners that would exempt USMCA-compliant Canada shipments. Mexico has already begun bilateral talks, and Ottawa says the deal can be extended if it benefits all three nations.

via Yahoo Finance|

#autos-policy #canada-us-trade #tariffs

business1 month ago•4 min saved

Canada pushes for a 16-year USMCA renewal as July deadline nears

Canada formally requested in Washington that the USMCA be renewed for 16 years, arguing the pact gives North America a competitive edge while acknowledging areas to improve; talks on sectoral tariffs are seen as essential, with the US seeking greater access for dairy and higher North American content in cars. If no extension is agreed by July 1, the pact would be renewed annually through 2036 amid domestic pressure to conclude a deal.

via BBC|

#autos #business #canada

policy1 month ago•1 min saved

US and Mexico Launch First Joint USMCA Review Negotiations

The United States and Mexico announced a series of bilateral negotiating rounds for the first Joint Review of the USMCA, led by Deputy USTR Jeff Goettman. The first round in Mexico City (May 28-29) will address economic security and rules of origin for key industrial goods; the second round in Washington (June 16-17) will cover agriculture and a level playing field; and a third round in Mexico City the week of July 20 will continue talks to ensure the USMCA benefits U.S. manufacturers, farmers, workers, service providers, and SMEs.

via ustr.gov|

#agriculture #bilateral-negotiations #policy

business1 month ago•17 min saved

Canada’s 15% Streaming Levy Draws Fire From U.S. Studios

Canada’s Online Streaming Act requires American platforms operating in the country to devote about 15% of Canadian revenues to funding local indie and French-language content, a move condemned by the Motion Picture Association as discriminatory and burdensome. The policy, tied to a 2023 law, shifts funding toward homegrown media and away from smaller broadcasters, has faced a Federal Court challenge, and raises USMCA concerns amid broader trade tensions and potential tariff talks with the United States.

via The Hollywood Reporter|

#business #canada #crtc