Next Round of NAFTA Negotiations Starts Feb. 25
The seventh negotiating round to modernize NAFTA will be held in Mexico City Feb. 25 - March 5. One of the issues to be tackled is how much U.S. and North American content must be included in automobiles to qualify…
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them for tariff-free status. Currently, there's a 62.5 percent North American value requirement for autos and 60 percent for components, but some electronic components are not tracked on the list. The auto industry opposes the administration's proposal to increase U.S. content to 50 percent, and North American content to 85 percent (see 1801290049). President Donald Trump continues to talk about withdrawing the U.S. from NAFTA if it is not improved to his liking, but Treasury Secretary Steve Mnuchin said during a Feb. 15 congressional budget hearing that he's cautiously optimistic the U.S. Trade Representative will be able to reach an agreement on revisions. He refused to speculate about the impact of the U.S. leaving NAFTA.