Mexico Disputes US Application Of USMCA Rules On Autos
Sumaira FH Published July 24, 2021 | 09:20 AM
Washington, (UrduPoint / Pakistan Point News - 24th Jul, 2021 ) :Mexico is at odds with the United States over how it is applying content rules for the regional auto trade, Mexican Economy Minister Tatiana Clouthier said Friday.
The dispute centers on content requirements known as rules of origin that allow cars manufactured in North America to receive duty free treatment under the regional trade pact that took effect just over a year ago.
"We believe that the rules of origin have not been interpreted the way it was agreed at the moment we signed the agreement," Clouthier told reporters.
The US-Mexico-Canada Agreement (USCMA) signed by former US president Donald Trump raised the regional content requirement for vehicles to 75 percent from the 62.5 percent threshold under the North American Free Trade Agreement (NAFTA), which it replaced.
Clouthier met on Thursday with US Trade Representative (USTR) Katherine Tai to discuss the issue just after the anniversary of the deal's implementation, but indicated the sides had not resolved their disagreement.
"We need more dialogue," she said at a press conference.
She also released a statement warning that "not abiding by USMCA rules may potentially disrupt the operations of the North America automotive industry and will result in unnecessary burdens" for the manufacturers and "reduced competitiveness."The USTR did not respond to a request for comment, but in a statement after the meeting with the Mexican officials said the "United States remains committed to the full implementation of the USMCA, including the strong auto rules of origin."Trump and his trade representative Robert Lighthizer touted the new pact as a boon for the American auto industry, which under NAFTA became tightly integrated with suppliers and assembly plants in Mexico and Canada.
Related Topics
Recent Stories
UHS to issue MBBS degrees within three months after final result
Aiman Khan granted UAE Golden Visa
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
More Stories From Business
-
IPO to celebrate World Intellectual Property day on 26th April
5 minutes ago -
Iranian president's visit to help ensure mutual prosperity: state minister
55 minutes ago -
Soyabean, palm oil imports grew 53.07%, 28.55% in 09 months
55 minutes ago -
Gold rates up by Rs.1,100 per tola to Rs.242,000
2 hours ago -
Shipping activity at Port Qasim
3 hours ago -
PSX achieves significant milestone, surpasses 72,000 mark
3 hours ago
-
KP to adopt fixed ST on services for lawyers, customs agent
3 hours ago -
KPT shipping movements report
3 hours ago -
Machinery import surges by 30% in nine months
3 hours ago -
Foreign exchange rates
6 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
7 hours ago -
Today Gold Rate in Pakistan 24 April 2024
8 hours ago