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WASHINGTON (Reuters) – U.S. automakers and parts suppliers on Thursday warned that President Donald Trump’s steel and aluminum tariffs and threatened car tariffs would undermine the benefits of the new deal to modernize the North American Free Trade Agreement, causing widespread job losses. At a wide-ranging hearing before the U.S. International Trade Commission, labor representatives said the new U.S.-Mexico-Canada Agreement (USMCA) fails to include adequate enforcement of labor standards, while Southeastern U.S personalised copper cufflinks uk sale. fruit and vegetable growers said it leaves them vulnerable to subsidized Mexican competition..
The testimony will feed into a study by the commission on the economic impact of the trade deal reached on Sept personalised copper cufflinks uk sale. 30, which could heavily influence support for it in the U.S. Congress. A vote on the pact is not expected until the spring of 2019, following a lengthy consultation process. Several automotive trade groups said side letters to the USMCA deal that allow Canada and Mexico duty-free auto import quotas in the event that Trump imposes car tariffs was an indication that such a move seemed inevitable..
The Trump administration is considering recommendations from the Commerce Department on whether to impose tariffs on national security grounds under Section 232 of a Cold War-era trade law personalised copper cufflinks uk sale. No decisions have been made, but President Donald Trump has frequently threatened to impose 25 percent tariffs on autos and parts to pressure the European Union and Japan to make trade concessions. “If implemented, increased auto tariffs would not only undermine the potential success of the USMCA, they would also pose a material threat to the economy and may result in the loss of as many as 700,000 jobs across the U.S.,” said Jennifer Thomas, vice president of government affairs for the Alliance of Automobile Manufacturers..
The groups also said the failure of the new U.S.-Mexico-Canada Agreement (USMCA) to lift steel and aluminum tariffs have cost the industry billions of dollars and trade turmoil in general has paralyzed investment decisions personalised copper cufflinks uk sale. “The current state of play on trade has placed our industry in turmoil,” said Ann Wilson, senior vice president of government affairs at the Motor and Equipment Manufacturers Association. “In the last year our members have faced Section 232 steel and aluminum tariffs, other Section 232 tariffs proposed, and Section 301 tariffs on goods from China.”..