After insisting on high North American and U.S. part content figures to avoid tariffs, the U.S. has reduced 10 percentage points off its demand over automobile content. The figure now stands at 75 percent over 85 percent North American parts in negotiations. The Trump administration took the American-made requirement off the table before the latest news.
Additionally, U.S. negotiators also proposed offering credits to help automakers meet thresholds if they invest in workforces, salaries and new research.
President Trump commented on NAFTA and said, “We’re getting pretty close to a deal.” However, the president offered up no timeline and said the U.S. is in no rush to wrap things up without putting in place a better deal in the administration’s eyes.
“It could be two weeks, it could be three months, it could be five months, I don’t care … I have no timeline … I keep reading from the fake news media that we’re pushing it, we’re not pushing it…. There’s no timeline,” President Trump added.