Major automakers urge Trump administration: don't ditch NAFTA
Source: MSN/Reuters
Global automakers on Monday urged the Trump administration not to terminate the North American Free Trade Agreement and expressed hope the United States, Canada and Mexico can successfully conclude a modernized and improved trade pact.
Fiat Chrysler Automobiles NV (FCA) Chief Executive Sergio Marchionne, who announced last week plans to shift heavy pickup truck production from Mexico to Michigan by 2020, said he hoped the Trump administration would "retune" some of its trade talk demands.
Trump has threatened to withdraw from NAFTA, which is heavily utilized by automakers that have production and supply chains spread across the three countries.
Marchionne, speaking at a news conference at the Detroit auto show, said FCA's truck production shift in part "goes a long way I think in addressing some of President Trump's concerns about the dislocation of production capacity out of the United States."
Read more: https://www.msn.com/en-us/money/markets/major-automakers-urge-trump-administration-dont-ditch-nafta/ar-AAuKeQg?li=BBnb7Kz
Bernie has been keeping the pressure on Trump to fulfill his rhetoric on trade agreements. While he backed out of TPP with Bernie's support, he has dragged his feet on NAFTA.
https://www.bloomberg.com/news/articles/2017-12-13/bernie-sanders-to-trump-on-nafta-for-once-keep-your-promise
Bernie Sanders Tells Trump to Keep His Promise on Nafta
President Donald Trump is finding an unlikely ally in his efforts to overhaul the North American Free Trade Agreement: the political left.
Civil-society groups, union leaders and left-wing politicians have opposed almost everything Trump has done. But they’re urging him to stand firm in his attempt to overhaul Nafta -- and face down opposition from business groups, who complain that U.S. companies will be hurt by the proposed changes. Mexico and Canada have called U.S. demands unworkable, including on regional-content requirements for cars and investor-state dispute systems.
Senator Bernie Sanders, an outspoken critic of trade deals in his campaign for president last year, called on Trump to deliver. “When Donald Trump campaigned for president, he promised that he was going to stop corporations from shifting American jobs to Mexico,” Sanders said Wednesday at a rally for the #ReplaceNafta movement in Washington. “For once in your life, keep your promises.”
Many pro-trade Republicans oppose the most contentious U.S. proposals, which the administration says will lure manufacturing back to America. Trump may need votes from the left if he hopes to pass a revised Nafta. That means courting organizations such as advocacy group Public Citizen, which opposes much of Trump’s agenda, including his views on climate change and bank regulations. However, the non-profit is tentatively backing several U.S. positions at the negotiating table, including a push to eliminate tribunals that arbitrate disputes between governments and companies.
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