Revised NAFTA could mean more tariffs on S. Korean cars
- 6 years ago
America's revised trade deal with Mexico could result in higher tariffs on auto imports to the U.S., including those from South Korea.
The U.S. Trade Representative announced last week that light vehicles will have to use materials and components... made 75 percent in North America, up from the NAFTA threshold of 62-and-a-half percent.
The deal also requires 40 to 45 percent of a vehicle... to be produced by workers earning at least 16 U.S. dollars an hour, which is likely to move industrial capacity out of Mexico.
The Trump administration is also looking at protecting the American car market... using national security tariffs, which would apply to all carmakers, including Korean ones.
The U.S. Trade Representative announced last week that light vehicles will have to use materials and components... made 75 percent in North America, up from the NAFTA threshold of 62-and-a-half percent.
The deal also requires 40 to 45 percent of a vehicle... to be produced by workers earning at least 16 U.S. dollars an hour, which is likely to move industrial capacity out of Mexico.
The Trump administration is also looking at protecting the American car market... using national security tariffs, which would apply to all carmakers, including Korean ones.