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U.S., Mexico allegedly agree to de facto “quantitative limit” in auto trade

  • August 31, 2018
  • , Nikkei
  • JMH Summary

Nikkei front-paged a report from Washington saying that it has learned that the United States and Mexico allegedly agreed at their NAFTA review talks that Washington will impose a tariff of up to 25% on auto imports from Mexico if they exceed a certain volume. Speculating that 2.4 million cars will likely be set as the threshold for the additional tariff, the paper claimed that the arrangement is tantamount to a “quantitative limit.” The paper wrote that Mexico’s Economy Minister Guajardo disclosed to local media on Wednesday that this agreement was included in an annex to the bilateral accord reached between the United States and Mexico on Monday. The paper conjectured that Japan will likely face tough negotiations with the United States on auto trade.

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