Trump’s new NAFTA would hit the auto sector, report finds [Los Angeles Times (CA)]
Ford Motor Company (F)
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Source: Los Angeles Times
Trump’s new NAFTA would hit the auto sector, report finds President Trump’s new North American trade deal would lead to higher car prices for U.S. consumers and a decline in auto sales even as it modestly helps the nation’s broader economy, an independent government report released Thursday estimated. That undercuts one of the White House’s key sales pitches for the agreement. In its assessment of the new U.S.-Mexico-Canada Agreement — which would replace the North American Free Trade Agreement, or NAFTA — the International Trade Commission found the deal would have a modest beneficial impact on the American economy, adding 0.35%, or $68 billion, to U.S. gross domestic product in the sixth year after it took effect. The report offered a much more skeptical view of tough new auto production rules, saying that while they would add 28,000 jobs in the auto sector, they would lead to a fall in vehicle assembly jobs due to higher production costs that would be a drag on U.S. manufacturing m
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