UPDATE 1-Japan auto lobby says hopes NAFTA will keep current framework [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
Japan auto lobby says hopes NAFTA will keep current framework | Reuters 3 Min Read TOKYO (Reuters) - Japan’s automakers’ association said on Thursday it hoped that the North American Free Trade Agreement (NAFTA) would maintain its current framework as the United States, Canada and Mexico update the trade pact amid growing trade tensions between the United States and its trading partners. “Japanese automakers’ businesses in North America are based on the NAFTA framework, and that framework is based on a three-party agreement,” said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association (JAMA) and president of Toyota Motor Corp ( 7203.T ). “We hope that framework continues this way, and that it remains well-balanced.” Japanese automakers are bracing for the possibility of higher tariffs on the vehicles they ship for the U.S. market after Washington earlier this year launched a national security investigation into car and truck imports. They are also awaiting an agreem
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