Mexico economy minister: Mexico wants to address US concerns on foreign independence
The Mexican economy minister is speaking more about the USMCA news
- Mexico wants to address US concerns on foreign independence.
- Says he doesn't see a substantial difference in between Mexico, US, and Canada that cannot be resolved.
- Says he proposed to US to reduce section 232 on steel and aluminum, coordinate regional level.
- It will need to be seen in coming weeks how Canada will be involved.
- We do not agree on issues of steel and aluminum tariffs, that regional components of auto parts need not be taken into account, seasonality of agricultural products
- we still need to discuss criteria for rules of origin. There is a systemic difference here. Rules of origin for Mexico auto sector are among the most complex in the world.
- Protection for auto sector has been the principal point of discussion
Section 232 of the Trade Expansion Act of 1962 — which lets the President impose tariffs on imports found to threaten U.S. national security, based on a Commerce Department investigation. It predates USMCA by decades. The two get talked about together constantly because Section 232 tariffs (mainly on steel, aluminum, copper, and autos) directly affect Canada and Mexico even though those two countries are USMCA partners with the U.S.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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