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U.S. wants 4-year phase-in for higher NAFTA auto content thresholds
The latest U.S. proposal for updating NAFTA’s automotive rules would carry a four-year phase-in to meet a higher, 75 percent regional value threshold as well as new labor content rules requiring substantial work at hourly wages of at least $16. A summary of the proposal, seen by Reuters and circulating among auto industry officials based on descriptions from Canadian and Mexican trade negotiators, would require the $16 wage on work comprising 40 percent of the value of light-duty passenger vehicles and 45 percent for pickup trucks. The wage demand, pushed by U.S. Trade Representative Robert Lighthizer during ... (full story)
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