Donald Truephoto: Leah Millis / Reuters
Trade agreement between the U.S. and Mexico, which country had reached 27 Aug contain additional terms. Washington can impose increased duties on manufactured in Mexico cars when you reach a certain threshold of imports, writes Reuters with reference to sources in the automotive industry in both countries.
According to the Agency, the agreement provides that import assembled in Mexico car in the USA should not exceed 2,4 million units per year. For auto parts the limit is 90 billion dollars a year. In this case, the product will not be subject to duties, otherwise customs fees will be able to achieve 25 percent.
This condition was stipulated in the supplementary document to the main agreement, the existence of which had not been reported. Are there any additional restrictions on other types of Mexican goods shipped to the U.S., is still unknown.
According to the Mexican automotive industry Association, exports of vehicles in the U.S. in the first quarter of 2018 amounted to 600 thousand, which is 5.3 percent more than in the same period last year. In annual terms this figure is equal to 2.4 million vehicles, that is, at the current rate of supply fees can be avoided.
On the achievement of agreements between Washington and Mexico city became known on August 27. Then it was reported that the two countries will retain a free trade zone, however a little will tighten the conditions compared to the North American free trade agreement (NAFTA) of 1992. In particular, the level of localization of vehicles produced in the territory of any of the two countries, increased from 62.5 to 75 percent. Mexico also agreed to eliminate the special authority, which considered complaints on USA imposed anti-dumping duties.
So far, the agreement does not include Canada, which was a party to the NAFTA, however, she was asked to join it or to sign a separate document with the United States.
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